s 2
(1) Section 12 of the Act of 1969 shall have effect with Duty to invest the insertion after subsection (1) of the following subsection— pith National “(1A) Notwithstanding the provisions of subsection (1) Commissioners above the trustees of a trustee savings bank may, if the rules (and of the bank so provide, receive any sum of money from a description depositor on terms that it shall not be required to be invested deposits in accordance with that subsection ”. confined to (2) It is hereby declared for the avoidance of doubt that the deposits in effect of section 12(1) of the Act of 1976 is to exclude deposits savings in a current account with a trustee savings bank from being accounts. deposits for investment with the National Debt Commissioners under subsection (1) of section 12 of the Act of 1969 within the meaning of subsection (3) of that section (and accordingly to exclude them from being “ordinary deposits” within the meaning of the Act of 1969). (3) In section 14(1) of the Act of 1969 and in section 28(1) of that Act, as amended by paragraph 11(a) of Schedule 5 to the Act of 1976, for the words “savings account” there shall be substituted the word “ ordinary ”. (4) In section 12(3) of the Act of 1976, for the words “ savings account deposits ” there shall be substituted the words “ ordinary deposits (within the meaning of the Act of 1969)”. (5) In section 16(4) of the Act of 1976 the words “ in respect of the savings account deposits of that bank ” shall be omitted. (6) Any amendment made by this section in any provision of the Act of 1969— (a) shall be deemed to have had effect from the time when 12(1) of the Act of 1976 came into operation ; section an (b) shall cease to have effect when the provision amended ceases to have effect.