§ 3.23 p.m.
§ Lord JACQUES rose to move, That the draft Administration of Estates (Small Payments) (Increase of Limit) Order 1975, laid before the House on 12th June, be approved. The noble Lord said: My Lords, the Administration of Estates (Small Payments) Act 1965 specifies a limit of £500 on the amount of property which is allowed under certain statutory provisions to be disposed of on death 729 without the necessity for probate or other proof of title, or in pursuance of a nomination made by the deceased. The statutory provisions referred to cover payments made by such institutions as the National Savings Bank, Trustee Savings Banks, building societies, friendly societies and the Departments in central and local government concerned with the payment of pensions. The 1965 Act provided that the limit of £500 could be raised by Statutory Order. This Order increased the limit to £1,500. The Order applies in relation to deaths occurring or nominations effected after the expiration of one month beginning from the date on which the Order comes into operation. It is intended that the Order should come into operation in mid-July. My Lords, there has been considerable pressure for this Order because of inflation, and I would commend it to the House.
§ Moved, That the draft Administration of Estates (Small Payments) (Increase of Limit) Order 1975, laid before the House on 12th June, be approved.—(Lord Jacques.)
Viscount COLVILLE of CULROSSMy Lords, I happen to know that these exemptions from formalities save a good deal of time and trouble where small estates are concerned. I am very glad to hear that the ceiling has been heightened so that we keep pace with inflation. I just hope that the Government will be able now to contain inflation so that we shall not need another similar Order too soon.
§ On Question, Motion agreed to.