§ 73 and 74. Mr. Harry Howarth
asked the Chancellor of the Exchequer (1) if he will take steps, by legislation or otherwise, to amend the conditions under which premium bonds are issued, to allow them to be transferred to a person named in a will on the death of the holder;
(2) if he is aware that many people assume that premium bonds are transferable to a person named in the will on the death of a holder; and what action he will take to give publicity to the conditions under which the bonds are issued.
§ Mr. Diamond
The Prospectus clearly states that "Premium Bonds will not be transferable". Any amendment allowing Bonds to be bequeathed would increase administrative costs by some £40,000 per annum and I am informed that demand for transferability on death is negligible.