NATIONAL DEBT Citation and commencement 1 These Regulations may be cited as the Savings Certificates (Amendment) Regulations 1991 and shall come into force on 11th February 1991. Amendment of principal Regulations 2 The Savings Certificates Regulations 1972 shall be amended: a by inserting at the end of regulation 6(1) the words “Where repayment is requested on a specified date the application may not, unless the Director of Savings otherwise agrees, be made more than two months before that date. Unless the Director of Savings otherwise directs or agrees any application for repayment shall be made to the Savings Certificate and SAYE Office, Durham.”; b by substituting the following for regulation 7(6)— 6 An uncrossed warrant shall be payable at the place named in the warrant or otherwise in accordance with the directions contained therein. The Director of Savings may dispatch the warrant to such place, and where he does so shall dispatch a notice informing the payee that he has done so. ; c by substituting the following for regulation 7(7)— 7 For the purpose of determining the amount repayable in respect of a certificate, the payment of the amount repayable thereunder shall be deemed to be effected on the date appearing on the warrant. 7A Subject to paragraph (7B) below, the date appearing on the warrant shall, unless the holder has requested a later date, be not more than 21 days from the date on which application for payment of the amount repayable in respect of a certificate is received by the Director of Savings in accordance with regulation 6(1) above; and where the holder has requested that the warrant be dated with a later date, the date appearing on the warrant shall be no later than that date save that the Director of Savings may set a different date (being not more than 10 days after the requested date) if, having regard to the terms on which the certificate was issued, he is satisfied that such different date would be in the interests of the holder. 7B If the Director of Savings is satisfied that it is or was not practicable to dispatch the warrant in time to enable payment thereof to be made on a date within paragraph (7A) above, then the date appearing on the warrant shall be no later than the earliest date by which he is satisfied it would be practicable for the payee to obtain payment thereof. In this paragraph the expression “payment” in relation to a crossed warrant shall include paying in the warrant at a bank or other institution. 7C Paragraphs (7), (7A) and (7B) of this regulation shall apply and be deemed always to have applied to all certificates purchased and not repaid before the coming into force of those paragraphs, provided that in respect of such certificates the date appearing on the warrant shall not be a date which would result in the amount repayable being less than the amount that, having regard to the date on which the warrant is dispatched, would have been repayable if those paragraphs had not come into force in respect of such certificates. ; and d by substituting the following for regulation 7(8)— 8 The posting of a a warrant, or b the notice referred to in paragraph (6) above, where in accordance with that paragraph an uncrossed warrant is dispatched to the place at which it is payable, to any person at the last address furnished to the Director of Savings shall, as regards the liability of the Treasury or the Director of Savings, be equivalent to the delivery of the warrant or notice to that person. . Irvine Patnick Sydney Chapman Two of the Lords Commissioners of Her Majesty’s Treasury 16th January 1991