Finance Act, 1946

Interest on deposits in trustee savings banks.

29.—(1) Notwithstanding anything contained in section 5 of the National Debt (Supplemental) Act, 1888, the interest payable on a deposit in a trustee savings bank shall not exceed the rate for the time being payable on a deposit of a similar amount in the Post Office Savings Bank.

(2) In this section the expression “trustee savings bank” means a bank certified under the Trustee Savings Banks Act, 1863.