The Government Annuities Payment (Amendment) Regulations 2010

• Citation: S.I. 2010/773
• Sections: 5

Section 1 Citation and commencement

These Regulations may be cited as the Government Annuities Payment (Amendment) Regulations 2010 and come into force on 1st April 2010.

Section 2 Amendment of the Government Annuities Payment Regulations 1958

The Government Annuities Payment Regulations 1958 are amended as follows.

Section 3 Amendment of the Government Annuities Payment Regulations 1958

In regulation 1, for the words from “addressed to” to the end, substitute “or, if the Commissioners so direct, by electronic transfer to an account to which payment is capable of being made by that means.”.

Section 4 Amendment of the Government Annuities Payment Regulations 1958

After regulation 5, insert—

(5A) Payment in good faith and in the ordinary course of business by electronic transfer, in accordance with regulation 1, to the account last specified to the Commissioners by the annuitant or his mandatory or attorney will be a good discharge to the Commissioners.

Section 5 Amendment of the Government Annuities Payment Regulations 1958

In regulation 6, after “National Debt Commissioners;”, insert—

“electronic transfer” means a system for transferring money to a bank account by means of electronic or automated processes which do not involve the delivery and collection of a payable instrument or the delivery of cash;