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Law library · Sierra Leone · The Post Office Savings Bank (Rate of Interest) Order

Section 42, The Post Office Savings Bank (Rate of Interest) Order

Status not yet checkedThe Post Office Savings Bank (Rate of Interest) Order, Sierra Leone

( 1) Where deposits have been made in the name of oneperson as trustee for another person whose name in also entered in the title of the account, upon the application of such lastnamed person the Postmaster General may, in case he should think it just and expedient so to do, remove the name of the trustee from the title of the account, and may substitute the name of another trustee in the place thereof, or may enter the account in the name of the person on whose behalf the deposits were made. (2) Where the name of a new trustee is substituted, such trustee shall make the declaration required upon the making of a first deposit. (3) In any case provided for by this rule the receipt of the persons named in the title of the account as altered in manner provided by this rule shall be a good discharge to the Postmaster General for any sums standing to the credit of the account.

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