§ MR. WHARTON (York, W.R., Ripon)asked the Postmaster General, If it is proposed to reduce the amount now necessary for depositors in Post Office Savings Bank to accumulate before conversion into Government Stock (namely, £10); and, if so, to what extent does he contemplate reduction?
§ THE POSTMASTER GENERAL (Mr. RAIKES) (Cambridge University)Section 5 of the Savings Bank Act, 1887, provides that the minimum amount to be invested in Government Stock shall be such sum as may be from time to time fixed by Regulation; and effect has been given to this section in the new Savings Bank Investment Regulations which have recently, in accordance with the Act, been before the House of Commons for 40 days. The minimum amount of Stock which can be purchased or sold has been fixed at 1s. The new Regulations will be brought into operation with the least possible delay.