BOTSWANA SAVINGS BANK: SUBSIDIARY LEGISLATION

INDEX TO SUBSIDIARY LEGISLATION

Botswana Savings Bank Regulations

National Savings Certificate (Revocation) Order

BOTSWANA SAVINGS BANK REGULATIONS

(section 32)

(1st January, 1963)

ARRANGEMENT OF REGULATIONS

    REGULATION

    1.    Citation

    2.    Interpretation

    3.    Application to open an account

    4.    Procedure on making deposits

    5.    Deposit book

    6.    Duties of officer receiving deposit

    7.    Loss of deposit book

    8.    Delivery of deposit book to Managing Directors

    9.    Withdrawals: general provisions

    10.    Ordinary withdrawals

    11.    Presentation of warrant

    12.    Ordinary withdrawals for maintenance of a person under the age of seven years

    13.    Withdrawals: power of attorney

    14.    Telegraphic withdrawals

    15.    Withdrawal on demand

    16.    Transfers within Botswana

    17.    Transfers from Botswana

    18.    Transfers to Botswana

    19.    First deposit by person who cannot write

    20.    Deposits made in error

    21.    Surrender of deposit book

    22.    Deposit in name of trustee

    23.    Deposit in name of person under age of seven years

    24.    Substitution of person authorised to withdraw moneys from association's account

    25.    Addition of names to title of account

    26.    Proof of death

    27.    Proof of identity

G.N. 19, 1963,
L.N. 84, 1966,
S.I. 91, 1970,
S.I. 25, 1973,
S.I. 86, 1979,
S.I. 45, 1982,
S.I. 109, 1989.

1.    Citation

    These Regulations may be cited as the Botswana Savings Bank Regulations.

2.    Interpretation

    (1) In these Regulations, unless the context otherwise requires—

    "account" means an ordinary savings account or a save-as-you-earn account or a special savings account, as the case may be, in the Savings Bank;

    "association" means any association, society, club or fund approved by the Managing Director in terms of section 12 of the Act;

    "deposit book" means a book issued in terms of regulation 5(1);

    "ordinary savings account" means an account in which the minimum balance is P5 and repayment on demand and telegraphic withdrawals may be obtained at any post office;

    "post office" means a post office or other place at which the business of the Savings Bank is conducted;

    "save-as-you-earn account" means an account for a fixed period contract of 24 monthly deposits, with a minimum monthly deposit of P20;

    "special savings account" means an account in which the minimum balance is P200, and in which the interest is higher than that paid on an ordinary savings account.

    (2) In these Regulations, "depositor" means—

    (a)    in the case of a person under the age of seven years, the person making the deposit on behalf of the person under the age of seven years;

    (b)    in the case of a person of unsound mind, the curator of his estate;

    (c)    in the case of a joint account, the persons in whose names the account is entered;

    (d)    in the case of a body corporate, an officer of the body corporate;

    (e)    in the case of an association, the persons authorised to withdraw moneys standing to the credit of the account of the association; or

    (f)    in the case of a trustee for a person whose name is to be entered in the title of the account, the trustee.

3.    Application to open an account

    (1) Every application to open an account other than an account mentioned in subregulation (2) shall be made at a post office or in such other manner as the Managing Director may determine.