HC Deb 01 July 1930 vol 240 cc1775-6
50. Mr. DAY

asked the Financial Secretary to the Treasury the method by which holders of National Savings Certificates are enabled to sell or transfer their holdings to any other member of their own family; the fee required in respect of these transactions; and the average number of joint applications made for these transactions during the period of 12 months?


Transfers of Savings Certificates are allowed provided that they are not in the nature of a sale. A joint application by both parties must be made on the prescribed form and a fee of 1s. paid in respect of each transaction. The average number of applications for transfers for which the prescribed forms were issued during the last three years is 3,315 per annum. No separate figures are available for transfers to members of the same family.


Does not the hon. Gentleman think it rather hard on people to make them pay a shilling for a transfer? Cannot he consider waiving it?

52. Mr. TINKER

asked the Financial Secretary to the Treasury how many Savings Certificates of the 15s. 6d. issue have been converted into 16s. ones; and what facilities are given for this to be done?


Since July, 1926, up to 31st May, 1930, 3,083,800 first issue (15s. 6d.) certificates have been converted into current issue (16s.) certificates through the Money Order Department. It is probable that further conversions have been made by holders who have applied for repayment and purchased 16s. certificates with the proceeds, but no particulars of such conversions are available. In reply to the second part of the question, forms of application for conversion of 15s. 6d. certificates into 4½ per cent. Conversion Loan, 4 per cent. National Savings Bonds or 16s. certificates, and leaflets explaining the offers, are stocked at all Post Offices at which money order business is transacted.


Will the hon. Gentleman confer with the Postmaster-General so that the information he has just given will be sent to the Post Office? I have complaints made to me that applicants cannot get it when they ask for it.


I will look into that.