§ Mr. Cordleasked the Chancellor of the Exchequer why Premium Bonds cannot be purchased on behalf of a child by anyone other than a parent or guardian.
§ Mr. MacDermotAnyone may buy a Premium Bond for a child provided that the parent or guardian has signed the application form and is registered as the purchaser of the Bond. The reasons for this are that some parents and guardians object to their children holding Premium Bonds, and that until the child reaches 16, Premium Bond prizes are payable to the purchaser on behalf of the child.