§ 161. Mr. Digbyasked the Assistant Postmaster-General why trust money cannot be deposited in the Post Office Savings Bank, having regard to the fact that he is still appealing for national savings.
§ Mr. BurkeAn account may be opened in the Post Office Savings Bank by a person in trust for a named beneficiary. The account is regarded as held jointly by the trustee and beneficiary for the purposes of withdrawals and accordingly the signatures of all parties to the account are required in respect of a withdrawal. An account in the names of trustees as such without the name of the beneficiary cannot be opened, as, apart from other considerations, it would be impracticable to operate the prescribed limits on deposits.