The National Savings (Remediation Scheme) (No. 2) Regulations 2026
The
National Savings Bank Act 1971 (“the 1971 Act”) and the National Debt Act 1972 (“the 1972 Act”) created the current statutory framework for the operation of the National Savings and Investment Bank and the Director of Savings. The Director of Savings, a statutory officeholder, carries on the business of the National Savings Bank under
section 1 of
the 1971 Act, principally providing a range of investment accounts which are subject to
the 1971 Act and the secondary legislation made under
that Act, consolidated in the
National Savings Regulations 2015. Under
section 11 of
the 1972 Act, the Treasury raises money under the
National Loans Act 1968 under the auspices of the Director of Savings. The Director raises money by issuing products, subject to the 1972 act and the secondary legislation made under
that Act, consolidated in the
National Savings (No. 2) Regulations 2015.
Lifecycle
Department
Made
10 Jun 2026
—
Comes into force
02 Jul 2026
Enabling power
sections 3 11 National Debt Act 1972 The Treasury in exercise of the powers conferred by and of the make the following Regulations.
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