Regulation 4 of the Premium Savings Bonds Regulations 1972 (persons entitled to purchase and hold bonds) shall be amended—
(a)in paragraph (3)—
(i)by omitting the word “and” at the end of sub-paragraph (a) and inserting it at the end of sub-paragraph (b), and
(ii)by inserting after sub-paragraph (b) the following new sub-paragraph—“c subject to the approval of the Director of Savings, on behalf of and in the name of an eligible person, by any other person acting in pursuance of a power of attorney created by that eligible person;”
(b)by inserting after paragraph (4) the following new paragraph—“5 In this Regulation, “eligible person” means any person who—a may purchase a bond under paragraph (1) of this Regulation, orb is a mentally disordered person.”
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