belize savings bank act chapter 266 revised...

BELIZE

SAVINGS BANK ACTCHAPTER 266

REVISED EDITION 2003 SHOWING THE SUBSIDIARY LAWS AS AT 31ST OCTOBER, 2003

This is a revised edition of the Subsidiary Laws, prepared by the Law RevisionCommissioner under the authority of the Law Revision Act, Chapter 3 of the SubstantiveLaws of Belize, Revised Edition 2000.

ARRANGEMENT OF SUBSIDIARY LAWS

BELIZE

SAVINGS BANK ACTCHAPTER 266

REVISED EDITION 2003 SHOWING THE SUBSIDIARY LAWS AS AT 31ST OCTOBER, 2003

This is a revised edition of the Subsidiary Laws, prepared by the Law RevisionCommissioner under the authority of the Law Revision Act, Chapter 3 of the SubstantiveLaws of Belize, Revised Edition 2000.

This edition contains a consolidation of the following laws- Page

SAVINGS BANK RULES 3 - 32

THE SUBSIDIARY LAWS OF BELIZE REVISED EDITION 2003Printed by the Government Printer,

No. 1 Power Lane,Belmopan, by the authority of

the Government of Belize.

Savings Bank [CAP. 266

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CHAPTER 266

SAVINGS BANK RULES

ARRANGEMENT OF RULES

1. Short title.

2. Interpretation.

3. Business hours.

4. Branches subsequently opened.

5. Notice.

6. Identity cards.

7. Pass books.

8. Property of Bank.

9. Forwarding pass book.

10. Withdrawal when pass book lost.

11. Issue of new pass book.

12. Damaged pass book.

13. Payment without pass book.

14. Pass book no security.

15. Charges.

16. Entris in new book.

17. Deposits.

18. Trusts, &c., not recognised.

19. Deposits. Maximum credit account.

20. Claims.

21. Infant’s first deposit.

Savings BankCAP. 266]




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22. Person of unsound mind.

23. Friendly society.

24. Charitable or provident society.

25. Making deposits.

26. Withdrawal.

27. By infant.

28. Deposits in name of infant under seven.

29. Person of unsound mind.

30. Friendly society, &c.

31. Joint depositors.

32. Depositor becoming incapable.

33. Entitlement to repayment.

34. Deposit by post.

35. Withdrawal by post.

36. Remittance by post.

37. Withdrawal through bank.

38. Refusal of account, &c.

39. Verification of signature.

40. Nomination.

41. Revocation.

42. Revocation by marriage.

43. Alternative nominee.

44. Payment on death.

45. Proof of nomination, or death of depositor.

46. Creditor of deceased depositor.

47. Priority of nominee.





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48. Power of Minister on death of depositor.

49. Money due to infant.

50. Creditor’s rights.

51. Liability for repayment ceasing.

52. Trust monies, &c.

53. Blotter.

54. Transfer of accounts.

55. Accounting.

56. Stamp Savings Cards.

57. Copy of Rules.

58. Penalty._________________________

FIRST SCHEDULE_________________________

SECOND SCHEDULE________________________

THIRD SCHEDULE________________________

FOURTH SCHEDULE________________________

FIFTH SCHEDULE________________________

SIXTH SCHEDULE________________________

SEVENTH SCHEDULE________________________

EIGHTH SCHEDULE________________________





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CHAPTER 266

SAVINGS BANK RULES(Section 14)

1. These Rules may be cited as the

SAVINGS BANK RULES.

2. In these Rules unless the context otherwise requires-

“branch” means any place at which savings bank business is transacted otherthan the Head Office;

“deposit” means all monies, including interest, standing to the credit of adepositor;

“depositor” means any person in whose name money is deposited in the SavingsBank;

“Head Office” means the Public Treasury at Belize City;

“pass book” means the book given to a depositor in which is entered a recordof deposits and withdrawals.

3. The Head Office and the branches at Corozal Town, Orange WalkTown, Dangriga, Punta Gorda and San Ignacio shall be open for the transactionof business during such hours as the Treasury and Sub-Treasuries are open tothe public.

4. Every branch hereafter to be established shall be open for thetransaction of business on such days and at such times as the Minister maydirect, and the direction as to such days and times shall be conspicuouslyexhibited at such branch.

Ch. 57.Ch. 218.

Short title.

Interpretation.

Business hours.

Branchessubsequentlyopened.





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5. The Minister shall give notice in the Gazette of the opening of anybranch and one month’s notice of his intention to close any branch.

6. A person wishing to open an account shall furnish his name in full, hisaddress, and occupation. He shall affix his usual signature to a card which shallbe in the form of the First Schedule of these Rules, supplied for the purposewhich shall be kept on file at the Savings Bank for future reference. If theaccount is opened at a branch two cards must be signed, one to be filed at suchbranch and the other at Head Office.

7. Each depositor shall be given a pass book which shall be his receipt forall amounts deposited with the Savings Bank. In the pass book shall be recordedevery deposit or withdrawal. To enable this to be done a depositor shall presenthis pass book on each occasion a deposit or withdrawal is made.

8. Every depositor’s pass book shall be the property of the Bank andshall be delivered to the Minister as and when required, on a receipt beinggiven therefor.

9. Every depositor shall forward his pass book to the Head Office orbranch at which his account is kept, as soon as possible after the 1st day ofJanuary in each year in order that entries therein may be compared with theentries in the books kept at the Head Office and also that the interest due to thedepositor may be inserted in his pass book.

10. When the Minister is satisfied that a pass book is lost the sum at creditof the depositor may be paid without a duplicate pass book being issued providedthe amount is under five dollars and the depositor desires to withdraw the wholebalance at one time.

11. The Minister on proof to his satisfaction that a pass book has been lostor destroyed, may issue to any depositor a new pass book on payment of a feeof fifty cents to cover the cost thereof:

Notice.

Identity cards.

Pass books.

Property ofBank.

Forwardingpass book.

Withdrawalwhen pass booklost.

Issue of newpass book.





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Provided however, that the Minister may in his discretion, decline to issue anew pass book until the expiration of at least one week after he shall havereceived notice from the depositor of the loss of the original or until such lossshall have been notified in the Gazette and in such of the local papers as theMinister may think fit.

12. Should a pass book be found to be damaged on presentation, a newpass book, bearing the same number, and in continuation of the same account,may be issued in exchange on payment of a fee of twenty-five cents:

Provided that where the Minister is satisfied that the damage was not due tothe fault of the depositor a new book may be issued free of charge. New passbooks will be issued free of charge in exchange for exhausted ones.

13. The Minister may pay any amount at credit of a depositor’s account,without the production of the pass book, when he is satisfied that the depositoror other claimant is entitled to receive such sum.

14. A pass book shall not be deemed a security for money lent, and noclaim by any person holding a pass book in respect of a loan shall be entertained.

15. When a depositor opens an account and closes it within the period ofone month from the date on which he opened it, he will be charged the sum oftwenty-five cents for the pass book issued and the ledger space occupied.

16. When a pass book is issued to replace a lost one a copy of thedepositor’s account commencing with the balance brought forward at 1stJanuary of the current year shall be entered in such pass book.

17. Deposits may be made-

(a) by a person of full age and not under legaldisability;

Damaged passbook.

Payment withoutpass book.

Pass book nosecurity.

Charges.

Entries in newbook.

Deposits.





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(b) by a married woman;

(c) by an infant not under the age of seven years;

(d) in the name and on behalf of an infant under sevenyears of age by any person;

(e) on behalf of and in the name of a person of unsoundmind by the committee of his estate;

(f) in the joint names of persons, not exceeding three,entitled to make a deposit;

(g) in the name of any friendly society registered underthe Friendly Societies Act or any statutorymodification or replacement of the same;

(h) by trustees or treasurers of a charitable or providentinstitution, society or club or charitable bequest forschools;

(i) by executors, administrators and trustees;

(j) in the name of any person or persons or to anaccount in pursuance of an order of a court.

All deposits standing in the name of a married woman shall be deemed to be theseparate property of such married woman.

No person who is a depositor in one branch of the Savings Bank will be allowedto become a depositor in any other branch nor shall any depositor have morethan one account in his name only.

CAP. 317.





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18. The Savings Bank recognises no trust, public or private in depositors.

19. (1) Deposits in the Savings Bank may only be made by residentsof Belize and in accordance with the provisions of rule 17 of these Rules:

Provided that no such deposit shall be less than one dollar.

(2) The total amount of money to be held on deposit in the SavingsBank to the credit of any account, whether such account be a joint account orotherwise, shall not, except with the express permission of the Ministerexceed-

(a) forty thousand dollars, in the case of an accountfalling within any of the classes referred to inparagraphs (a) to (g) and (j) of rule 17 of theseRules; and

(b) sixty thousand dollars, in the case of an accountfalling within any of the classes referred to inparagraphs (h) and (i) of rule 17 of these Rules:

Provided however that in the case of an account of any Town Council, theBelize City Council, or other statutory body approved by the Minister, theMinister may accept and hold on deposit any sum.

20. No person shall have any claim in respect of any deposit not made inconformity with the Savings Bank Act or of these Rules.

21. Whenever a first deposit is made in the name and on behalf of aninfant under seven years of age, such application shall be made by the personmaking the deposit, and shall be accompanied by a declaration in the form ofthe Second Schedule to these Rules to be made by such person, stating thedate on which such infant shall attain the age of seven years.

Trusts, &c., notrecognised.

Deposits.Maximum creditaccount.

Claims.

Infant’s firstdeposit.





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22. Where a first deposit is made on behalf of a person of unsound mind,such application as aforesaid shall be made by the committee of his estate, andin every such case the person shall specify the capacity in which he acts.

23. Where a first deposit is made by a friendly society registered under theFriendly Societies Act, the following rules shall apply:

(a) Before making a deposit the duly authorised officeror officers of the society shall forward to theMinister an application signed by the said officersfor authority to make the deposits, specifying bywhat officer or officers of the society it is proposedmoneys deposited by the said society should bewithdrawn from time to time, and bearing andcontaining such signatures and other information asthe Minister shall require. The Minister may fromtime to time prescribe the form of such application.

(b) The duly authorised officers of a friendly societyby direction in writing signed by them may fromtime to time amend their application so far as relatesto the specification of officers of the society bywhom deposits of the society may be withdrawn,and may specify other officers in lieu thereof or inaddition thereto. The Minister may from time to timeprescribe the form of such direction.

(c) The persons named in any such direction for thepurpose of withdrawing deposits shall sign theirnames on the form of direction.

24. Where a first deposit is made by the trustees or treasurer of a charitableor provident institution, society, or club, or charitable bequest for schools, thefollowing provisions shall apply:

Person ofunsound mind.

Friendlysociety.CAP. 317.

Charitable or provident society.





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(a) Before making such deposit the trustees ortreasurer of such charitable institution, society orclub, or charitable bequest for schools shallforward to the Minister an application by thetrustees or treasurer of the society or institutionfor authority to make deposits specifying by whatofficers or members of the society it is proposedthe moneys deposited should be withdrawn fromtime to time and bearing and containing all suchsignatures and other information as the Ministermay require. The Minister may from time to timeprescribe the form of such application.

(b) The trustees or treasurer of a charitable institution,&c., may, by direction in writing signed by themor him from time to time amend their or hisapplication so far as relates to the specification ofthe officers or members of the charitable institution,society or club, or charitable bequest for schoolsby whom moneys deposited may be withdrawnand may strike out the names of any officers ormembers previously specified and specify otherofficers or members in lieu thereof or in additionthereto. The Minister may from time to timeprescribe the form of such direction.

(c) The persons named in such direction for thepurpose of withdrawing deposits shall sign theirnames on the form of direction.





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25. The appropriate officer will enter the amount to be deposited in theledger and in the depositor’s pass book. He will also record the particularsand amount in the blotter in the form set out in the Third Schedule heretoagainst the next consecutive number of the deposit series. Finally he willinitial the entry in the pass book and initial also the deposit voucher whichshall be in the form of the Fourth Schedule hereto and record on the latterthe serial number from the blotter. The depositor will then hand his passbook and the voucher together with the amount to be deposited to thecashier who will receive the cash and affix his initials in the pass book againstthe entry of the amount deposited retaining the voucher. Postal SavingStamps Cards will be received in lieu of cash and credit given for the valueof the stamps affixed to such cards. On the pass book being returned tothe depositor he must see that the correct amount of the deposit has beenentered therein.

26. A receipt in the form of the Fifth Schedule hereto shall be given forevery amount withdrawn from the Savings Bank by a depositor. Theprocedure shall be similar to that in regulation 25 of these Regulations. Theappropriate officer will enter the amount to be withdrawn in the ledger andin the depositor’s pass book and also record the particulars and amount inthe blotter against the next consecutive number of the “withdrawal” series.The depositor’s signature on the voucher will then be authenticated by theappropriate officer by comparison with the identity card or by such othermeans at his disposal after which he will record the number from the blotterthereon and initial the voucher and the entry in the pass book. The depositoror person authorised will then take the voucher and pass book to the cashierwho will pay over the amount demanded and affix his initials in the passbook against the entry of the amount withdrawn.

27. An infant not under the age of seven may withdraw any money depositedby him in his name and his receipt for any withdrawal shall be a good dischargeto the Minister for the sum specified in any such receipt.

Makingdeposits.

Withdrawal.

By infant.





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28. In respect of deposits made by any person in the name and on behalfof an infant under the age of seven years, such deposit with the interest thatmay have accrued thereon will be repayable to the parent or guardian, but notuntil such infant shall have attained the age of seven years; but in the event ofdeath before the age of seven years, the money shall be payable to the persondepositing the same. The Minister may, however, in his discretion, directpayments to be made on behalf of any infant before the child attains the age ofseven years, on being fully satisfied that such money is necessary for themaintenance and well being of such infant. Any such payment shall constitute afull discharge of all liability in connection with any such deposit, and shall havethe same effect as if the withdrawal had been made in accordance with theterms on which the deposit was made.

29. An application for the withdrawal of moneys deposited in the name ofa person of unsound mind shall be made by the committee of his estate, whosereceipt shall be a good discharge for the sum specified in such receipt.

30. An application for the withdrawal of moneys deposited in the name ofa friendly society registered under the Friendly Societies Act, charitable orprovident institution, society, or club, or charitable bequest for schools, shallbe made by the officers or members specified in the aforesaid application ordirection to the Minister and the receipt of such officers or members shall be agood discharge to the Minister for the sum specified in such receipt.

31. Where moneys are deposited in the joint names of two and notexceeding three persons, such persons at the time of making their first depositshall specify the manner in which their account shall be operated:

Provided nevertheless that in the event of the death of any joint depositor themoney at the credit of such account shall be payable to the survivor or survivors,and should it be shown to the satisfaction of the Minister that any joint depositorfrom insanity, imbecility or any other cause, is incapable of acting, withdrawalsmay be made by the depositor or depositors who may be capable of acting.The Savings Bank shall not be liable for any deposit or deposits or any part

Deposits in nameof infant underseven.

Person ofunsound mind.

Friendly society,&c.CAP. 317.

Joint depositors.





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thereof paid under the erroneous belief that a joint depositor was dead or hadbecome incapable of acting through insanity, imbecility or any other cause.

32. (1) Where it is proved to the satisfaction of the Minister that adepositor is from any cause whatever incapable of managing his affairs, whetherpermanently or temporarily, the Minister may, if he thinks fit, give authority forthe application of the whole or any part of the depositor’s deposit for themaintenance or benefit of himself or his family.

(2) Such authority may be either for a single payment or forpayments from time to time, and shall name the person to whom each paymentis to be made, and may prescribe how the money is to be expended and imposeconditions as to giving security, rendering accounts, or otherwise, and may, asregards any payment not already made, be revoked at any time.

(3) The receipt of any person for money paid to him under suchauthority shall be sufficient discharge to the Minister who shall not be responsiblefor seeing to the application of any such money.

33. Every depositor and every person legally authorised to claim on behalfof or as representing such depositor shall, subject to the proviso hereinaftercontained, upon claiming repayment in such form and manner as shall be fromtime to time prescribed, be absolutely entitled to immediate repayment from themoneys in the Treasury of all or any portion of the sum standing to the credit ofsuch depositor:

Provided always that when any amount exceeding five hundred dollars shall beso claimed, it shall be lawful for the Minister in lieu of making immediate repaymentto postpone making the same for such period not exceeding one month as tohim may seem fit.

34. A depositor wishing to deposit any sum may do so by forwarding suchsum together with his pass book and deposit form duly filled up to the HeadOffice, or the branch in which the account is kept, by registered post. Any such

Depositorbecomingincapable.

Entitlement torepayment.

Deposit bypost.





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sum received will be duly credited to the depositor’s account and the passbook showing the credit will be returned by post with as little delay aspossible.

35. A depositor wishing to withdraw the whole or any part of his depositmay do so by forwarding his pass book with the withdrawal receipt in theprescribed form duly executed by him to the Head Office or the branch inwhich the account is kept, and the amount of such withdrawal will beremitted by registered post or paid in such manner as the depositor mayrequire, if such request is reasonable, e.g. lodging the amount to his creditin any bank.

36. Remittances by post to or by the Bank shall be made by cheque orpostal order and shall be registered. A remittance by the Bank may, however,at the request of the depositor, be made otherwise than by a cheque or postalorder but a remittance so made shall be at the sole risk of the depositor.

37. A depositor may make a withdrawal through any recognised bank ashis agent, in which case the pass book must be forwarded with the withdrawalreceipt signed by the depositor and the latter must be endorsed by the managerof such bank.

38. The Minister, should he see fit to do so, may at any time refuse toopen any account, or refuse any sum tendered as a deposit, and may return adeposit with any interest accrued thereon.

39. If the depositor be resident abroad, his signature to a withdrawal receiptmust be verified to the satisfaction of the Minister by some constituted authorityof the place in which he shall be residing.

40. (1) A depositor of the age of sixteen years or upwards may bywriting (hereinafter called a “nomination”) name one or more nominees towhom the whole or any part of his deposit up to the sum of five hundreddollars is to be paid on his death.

Withdrawal bypost.

Remittance bypost.

Withdrawalthrough bank.

Refusal ofaccount, &c.

Verification ofsignature.

Nomination.





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(2) A nomination shall be signed by the depositor in the presenceof a witness, but shall not take effect unless it is lodged with and accepted bythe Minister in the life time of the depositor.

(3) A witness shall not take any benefit under a nominationwitnessed by him.

(4) The form of nomination given in the Sixth Schedule to theseRules shall be sufficient.

(5) The Minister may refuse to accept any nomination which, in hisopinion, is obscure in meaning or will be difficult to administer.

(6) The Minister shall provide printed nomination forms at theexpense of the Savings Bank.

41. A nomination may be revoked by a depositor by writing signed by himin the presence of a witness, but a revocation shall not take effect unless it islodged with the Minister in the life time of the depositor.

42. The marriage of a depositor revokes every nomination made by himbefore his marriage. But the receipt of a nominee under a nomination so revokedshall, unless the Minister has received written notice of the marriage, be a gooddischarge to the Minister.

43. (1) A nomination may name an alternative nominee to take in theevent of the death of the original nominee in the life time of the depositor.

(2) Unless an alternative nominee is so named, a nomination lapsesby the death of the nominee in the life time of the depositor.

44. (1) Subject to the provisions of these Rules, on the death of adepositor, his deposit up to the amount of five hundred dollars or such lessamount as is disposed of by any nomination in force at his death shall,

Revocation.

Revocation bymarriage.

Alternativenominee.

Payment ondeath.





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notwithstanding any will whether made before or after the date of the nominationor the intestacy of the deceased, be distributed according to the directionscontained in the nomination.

(2) Except as hereinafter provided no payment shall except byorder of the Minister be made until at least one month after the death of thedepositor.

(3) But it shall be lawful for the Minister at any time after thedeath of the depositor to pay to such nominee out of any sum to which suchnominee appears to be entitled a sum not exceeding one hundred dollars toprovide for the expenses of the burial of the depositor.

(4) The Minister shall not make any payment to any such nomineeunder the preceding paragraph of this rule until such nominee shall have madea statutory declaration under the Oaths Act verifying-

(a) the death of the depositor;

(b) that the declarant is the person nominated by thedepositor;

(c) that the sum is bona fide required for the burial ofthe depositor;

(d) that nothing has occurred to cause the nominationby virtue of which the declarant claims to lapse orbecome void.

45. (1) The Minister may, if he thinks fit, either before or after acceptinga nomination or a revocation, and either before or after the death of thedepositor, require its authenticity to be proved to his satisfaction.

CAP. 130.

Proof ofnomination, ordeath ofdepositor.





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(2) The Minister may, if he thinks fit, require the death of thedepositor to be proved to his satisfaction.

46. (1) A creditor of a deceased depositor may at any time after thedeath give written notice to the Minister specifying the amount of his debt, and,in that case, if the amount of the deposit apart from the amount disposed of bynomination is insufficient to pay the debts of which the Minister has receivedwritten notice as aforesaid, no further payment shall be made to a nomineeexcept by order of the Minister.

(2) In such a case the Minister may, in his absolute discretion, orderthe whole or any part of the deposit, so far as it is disposed of by nomination,to be paid to the executor or administrator of the deceased depositor for paymentof the deceased’s debts, or to be paid direct to any creditor of the deceased, orto be distributed under the nomination without regard to the claims of the creditorsof the deceased.

(3) Save as in this rule mentioned, a deposit may be distributedunder a nomination without regard to the debts of the deceased depositor.

47. A nominee who by reason of an order of the Minister is deprived ofany part of the deposit disposed of in his favour, shall be entitled, in priority toall persons claiming under the will or on the intestacy of the deceased, to bepaid a corresponding sum out of any personal estate of the deceased notspecifically bequeathed remaining after paying or providing for the deceased’sdebts properly payable out of such personal estate.

48. (1) When the deposit to the credit of a depositor at the time of hisdeath does not exceed the sum of one hundred dollars, and probate of his willor letters of administration to his estate are not produced within such time as theMinister thinks reasonable, the Minister may, if he thinks fit, without requiringproduction of the probate of the will or letters of administration to the estate ofthe deceased pay out the deposit or any part thereof, so far as it is not disposedof by nomination, to any one or more of the following persons, namely:

Creditor ofdeceaseddepositor.

Priority ofnominee.

Power ofMinister ondeath ofdepositor.





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(a) a creditor of the deceased;

(b) the widow or widower of the deceased;

(c) a person entitled to the whole or any part of thepersonal estate of the deceased under the statutesfor the distribution of the personal estate ofintestates or who would be so entitled but for hisillegitimacy or the illegitimacy of some otherperson;

(d) a person entitled to probate of the will or lettersof administration to the estate of the deceased;

(e) a person claiming under a donatio mortis causa;

(f) a person who agrees to maintain an infant-child ofthe deceased;

(g) in the case of foreign seamen, the consularauthority of any country with whom a treaty hasbeen made relative to the payment of moneys dueto such seamen;

(h) in the case of foreign subjects other than foreignseamen, the consular authority of the country towhich the depositor belongs on such assurance asto the ultimate disposition of the deposit as issatisfactory to the Minister:

Provided that where the estate of the deceased has devolved to theCrown the Minister may retain the same for the benefit of the revenueof Belize.





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(2) The Minister shall have regard to the rules of law regulating thedistribution of the estates of deceased persons; but he may, nevertheless, whenhe considers that injustice, hardship, or inconvenience would result fromadherence to such rules, order the deposit to be distributed otherwise than inaccordance with such rules.

(3) Any person aggrieved by the decision of the Minister in theexercise by him of the powers conferred under this rule may, within seven daysafter being notified of the decision, appeal to the Cabinet, and the Cabinet maymake such order as appears to it to be just.

49. (1) Money due to an infant under a nomination or payable to himunder rule 48 of these Rules shall be retained in the Savings Bank until the infantattains the age of twenty-one years.

(2) But the Minister may, if he thinks fit, order the whole or anypart of such money to be applied for the maintenance, education, or benefit ofthe infant in such manner as the Minister thinks proper, and the Minister may, ifhe thinks fit, order the whole or any part thereof to be paid to the infant personally,notwithstanding his minority.

50. Nothing in this Act shall affect any right of a creditor to follow moneypaid to a nominee or to any person specified in paragraph (1) of rule 48 ofthese Rules.

51. (1) When no addition to or withdrawal from a deposit is madeduring the period of twenty years or, if the amount of the deposit is less than onedollar, during the period of six years, the funds of the Savings Bank and ofBelize shall cease to be liable for the repayment of the deposit which may betransferred to the account of the general revenue of Belize and be disposed ofaccordingly.

(2) But in such a case the Minister may, if he thinks fit, at any timethereafter order the amount of the deposit to be paid out of the general revenue

Money due toinfant.

Creditor’srights.

Liability forrepaymentceasing.





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of Belize to any person who proves his right thereto to the satisfaction of theMinister.

52. Notwithstanding anything contained in these Rules, any moneybelonging to or held in trust for any infant, idiot person of unsound mind, ormarried woman or other person, which may be paid into the Supreme Court,may be paid into the Savings Bank and shall be subject to the orders of thesaid Court:

Provided that interest shall not be paid on any larger sum than ten thousanddollars.

53. A blotter in the form of the Third Schedule hereto shall be kept ateach branch. In it shall be recorded all transactions as they occur. The vouchersrepresenting the transactions will each be numbered in consecutive order withpermanent serial numbers from the blotter. There shall be two series of numbersin the blotter: one series for deposits and a separate series for withdrawals.Both series of numbers will commence with the number one on the 1st day ofJanuary in each year. The entries in the blotter, deposits and withdrawals, shallbe ruled off and totalled in red ink at the close of business each day and theresponsible officer will initial against the totals as correct.

54. To effect a transfer of an account from one branch to another a depositorwill present his pass book and request the transfer of his account. Theappropriate officer will note in the ledger and pass book “Transferred to

Branch” and add his signature and the date. On arrivalat destination the depositor will present his pass book at the new branch whenthe account will be entered in the ledger at that branch and a new accountnumber and the number of the folio corresponding with such entry entered inthe pass book and initialled by the appropriate officer.

The Branch from which the account is transferred if other than the Head Office,will prepare, in duplicate, a transfer voucher in the form of the Seventh Schedulehereto containing all particulars of the account and details of all transactions

Trust monies,&c.

Blotter.

Transfer ofaccounts.





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commencing with the balance B/F, on the 1st January preceding and the balanceat date of transfer. The duplicate will be forwarded to the Head Office and theoriginal to the branch to which the account is transferred. The officer in chargeof the latter will note the new number of the account and folio from his ledger onthe transfer voucher and add his initials against the word “Entered” with thedate. He will then forward the transfer voucher to the Head Office where thetransfer will be noted.

If the transfer is made from the Head Office a duplicate of the transfer voucherwill not be required. The transfer voucher, in original, will be forwarded to thebranch to which the account is transferred and returned to the Head Officeafter the transfer has been noted.

The branch will also forward the depositor’s identity card (duplicate) to thebranch to which the account is transferred. If the account is transferred fromthe Head Office a duplicate of the identity card will be prepared and forwarded.

55. (1) At the Head Office and at each branch respectively there shallbe kept a ledger in which shall be entered full particulars of each account and alltransactions at such office or branch.

(2) The Savings Bank accounts shall be balanced quarterly. Forthat purpose the Branch Savings Banks shall forward to the Head Office adetailed list of the balances due depositors at the 31 st March, 30th June, and30th September. Immediately after the 31st December in each year branchesshall prepare and forward to the Head Office a certified balance sheet in theform of the Eighth Schedule hereto.

56. (1) The Minister may issue Stamp Savings Cards for the purposeof encouraging thrift in such form as he shall think fit. The card shall be for thepurposes of receiving deposits by means of Savings Bank stamps to be affixedthereto.

Accounting.

Stamp SavingsCards.





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(2) When any Stamp Savings Card has had affixed thereto stampsof the face value of one dollar or upwards, such card will be received at theHead Office or any branch and a pass book issued for the amount specifiedon the card:

Provided that the Minister may redeem for cash Stamp Savings Cards to anyvalue on payment by the person tendering the same of the sum of twenty-fivecents for the card and stamps used. In the case of a person who is already adepositor the card should be forwarded by registered post to the branch atwhich the account was opened when the account will receive a further creditfor the amount specified on the card.

(3) When a Stamp Savings Card is handed in at the Head Officeor any branch the appropriate officer and the cashier will certify on the cardthe value of the stamps for which credit has been given, the number of thesavings bank voucher in connection therewith and the date of the transaction.

57. A copy of these Rules shall be exhibited at a conspicuous place in theHead Office and at each branch.

58. Any person contravening the provisions of any of these Rulesshall on summary conviction be liable to a fine not exceeding one hundreddollars.

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Copy of Rules.

Penalty.





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FIRST SCHEDULE

FORM A[Rule 6]

SAVINGS BANK-IDENTITY CARD

Account No. ............................Name (in full) ...............................................................................................Address .......................................................................................................Occupation ...............................................................................................Pass Book No. ..............................

Signature ...........................Other Particulars . .........................................................................................

.......................................................................................... .......................................................................................... ..........................................................................................

____________

SECOND SCHEDULE[Rule 21]

DECLARATION

I ……………………………….. of ……………………….. hereby declarethat I am the guardian of an infant named ......................................................and that he will attain the age of seven years on ............................................

Dated this ………………….. day of …………… 20 ……… ....................................................

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BELIZE





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FOURTH SCHEDULE[Rule 25]

BELIZE SAVINGS BANK

......................................................... Branch

DEPOSIT

No. of Account ........................... S.B. Blotter Vo. No. ........................Amount $ .................................... Initials of S.B. Officer ......................NAME OF DEPOSITOR ........................................................................

Deposited this ......................... day of ............................ 2.............in the Savings Bank the sum of ......................................................... dollars.................................................. cents.

Signature of Depositor ............................................Witness .........................................................................

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FIFTH SCHEDULE[Rule 26]

BELIZE SAVINGS BANK

........................................................... Branch

WITHDRAWAL

No. of Account ....................... S.B. Blotter Vo. No.........................Amount $ ..............¢ ..................... Initials of S.B. Officer ......................NAME OF DEPOSITOR ..........................................................................

Received this ................................day of ......................... 2.............the sum of ........................................................................................... dollars.................................................. cents.





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Signature ...................................................Witness ........................................................................Capital ..........................................Interest ..........................................Total $ ...........................................

____________





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SIXTH SCHEDULE[Rule 40]

FORM OF NOMINATION

I (name and description of depositor) hereby name (name anddescription of nominee) to receive at my death the sum of (state number ofdollars in words remembering that the total amount payable must not exceed$500) dollars from any money which at my death may be standing to my creditin the Government Savings Bank,

orto receive at my death all money (up to the sum of $500) which may at mydeath be standing to my credit in the Government Savings Bank,

orhereby name (names and descriptions of nominees) each to receive at my deaththe sum of (state number of dollars in words, remembering that the total amountpayable must not exceed $500) dollars from any money which may at mydeath be standing to my credit in the Government Savings Bank,

orhereby name (names and descriptions of nominees) to receive in equal sharesat my death all money (up to the sum of $500) which may at my death bestanding to my credit in the Government Savings Bank.

If it is desired to provide for the event of a nominee dying before thedepositor, add-

In the event of the said (name of original nominee) dying before me, Iname (name and description of alternative nominee) to receive at my death thesum or share to which the said (name of original nominee) would have beenentitled had the said (name of original nominee) survived me.

___________





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Front SEVENTH SCHEDULE[Rule 54]

GOVERNMENT SAVINGS BANK

TRANSFER VOUCHERName of Depositor ....................................................................................Account No. ........................... Folio No. ...........................Balance Transferred $ ..........................Transferred from ............................................................................. BranchTo .................................................................................................. BranchDate ..................................... ...............................................................

Minister of Finance and DevelopmentEnteredDate .................................... ................................................................

Minister of Finance and Development

Back

Date DR. CR. Balance Remarks

$ ¢ $ ¢ $ ¢





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Back EIGHTH SCHEDULE

____________

Date DR. CR. Balance Remarks

$ ¢ $ ¢ $ ¢

belize savings bank act chapter 266 revised...

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