Admiralty Order in Council No. 147

28th July 1906.

A.G.

Whereas by Orders in Council of Her late Majesty bearing date the 10th November 1866, 2nd March 1881, 10th March 1882, and 30th June 1890, the establishment was authorised under the " Naval Savings Bank Act, 1866,'* of Naval Savings Banks on board Your Majesty's Ships, at the Headquarters of the Royal Marine Divisions, and at such of Your Majesty's Naval Establishments on shore as we might think desirable, and sanction was given to the issue of such regulations for the proper management of the same as were from time to time found necessary ;

And whereas under the said Orders in Council the rates of interest were fixed at 3¾ per cent, simple interest per annum on all deposits in the banks established on board Your Majesty's Ships, and at 2½ per cent, compound per annum on every complete pound invested in the banks established at the Royal Marine Divisions and Naval Establishments on shore ;

And whereas we are of opinion that, in view of the reduced value of such deposits to Your Majesty's Government, it is no longer practicable to continue the payment of interest at the present rate on deposits in the Banks instituted on board Your Majesty's Ships, and that such rate should therefore be assimilated to that authorised on deposits in the Banks instituted at the Royal Marine Divisions and Naval Establishments on shore ;

And whereas we have been advised that regulations made under Section 5 of the Naval Savings Bank Act, 1866, should be authorised directly by Your Majesty's Order in Council, and covering sanction is therefore necessary to the regulations issued indirectly in accordance with the Orders in Council of Her late Majesty dated 2nd March 1881 and 10th March 1882 for the administration of the Banks at the Royal Marine Divisions and Your Majesty's Naval Establishments on shore ;

And whereas we consider it desirable in certain minor details further to revise the administration of the Naval Savings Banks on shore and on board Your Majesty's Ships ;

We beg leave humbly to recommend that in pursuance of the Act aforesaid Your Majesty may be graciously pleased by Your Order in Council to direct that the rate of interest payable on all deposits in new accounts opened in Banks instituted in any of Your Majesty’s Ships that may be commissioned on or after the 1st January 1907 shall be fixed at £2 10s. 0d. per cent, compound per annum on every complete pound invested, and that the regulations established under the Orders of Her late Majesty in Council dated 2nd March 1881, 10th March 1882, and 30th June 1890 maybe cancelled, and the regulations, copies of which are appended hereto, substituted for the same, and that this Order may have retrospective effect, as necessary to sanction the regulations issued from time to time for the management of the Banks at the Royal Marine Divisions and at Your Majesty's Naval Establishments.

The Lords Commissioners of Your Majesty's Treasury have signified their concurrence in these proposals.

Regulations for the Conduct of Naval Savings Banks

General Supervision.

1. The general supervision of the Bank will be vested in the Commanding Officer.

Manager of Bank.

2. The Paymaster will be regarded as the Manager of the Bank.

When Bank to be opened.

3. The Bank is to be open for the receipt and withdrawal of deposits on the days when monthly advances are paid, and in any month in which advances are not required the Commanding Officer shall appoint a day when the Bank shall be open.

Witness to transactions.

4. The Commanding Officer shall appoint a Commissioned Officer to attend personally and witness the receipts and payments.

Deposits.

5. No sum less than one shilling is to be received, nor any fractional part of a shilling.

Pass Book.

6. Each Depositor on making his first deposit shall be furnished by the Paymaster, for retention in the Depositor's own custody, with a Pass Book, in which shall be entered at the time of receipt or payment the several sums deposited or withdrawn, such entries to be verified by the initials of the Paymaster, and the officer appointed to witness the transactions under Sec. 4 ; the Pass Book shall bear on the outside of the cover the official or regimental number of the Depositor.

On closing his account each Depositor shall surrender his Pass Book, which shall be forwarded to the Accountant-General of the Navy with the Withdrawal List on which the closing transaction appears.

7. Should a Depositor lose his Pass Book the Commanding Officer may direct that' he be supplied with a fresh Book, on which the word " Duplicate " is to be written.

Deposit List,

8. At the time of the receipt of the amounts deposited, the Paymaster shall prepare a list of the same, to which is to be appended a certificate to be signed by him, that the sums deposited have been credited in the Ledger Accounts and Pass Books, and the total amount received debited in his Cash Account. A certificate to be signed by the witnessing officer appointed under Sec. 4 shall also be appended to the effect that the amounts shown on the list were deposited in his presence. The list is then to be forwarded to the Accountant-General of the Navy.

Withdrawals.

9. A Depositor wishing to withdraw the whole or any portion of his deposits shall give to the Paymaster seven days' notice prior to the next day for opening the Bank, in order that the necessary arrangements may be made.
10. Payment may, however, be made forthwith if the Commanding Officer is satisfied of the urgency of the case, and that the immediate withdrawal of the deposit would be for the advantage of the Depositor.
11. A Depositor withdrawing any sum cannot be permitted to re-invest it, or any part of it, the same day.
12. Interest is only payable when the total amount deposited is withdrawn.
13. No fractional part of a shilling may be withdrawn except when the Depositor's account is closed, and the interest is paid ; nor in the latter case is any fractional part of a penny to be paid.

Withdrawal List

14. At the time of the payment of the amounts withdrawn the Paymaster shall prepare a list of the same, to which is to he appended a certificate to be signed by him, that the sums withdrawn have been debited in the Ledger Accounts and Pass Books, and the total amount credited in his Cash Account. A certificate to be signed by the witnessing officer appointed under Sec. 4 shall also be appended to the effect that the several sums withdrawn have been paid in his presence. The list is then to be forwarded to the Accountant-General of the Navy.

Depositors transferred,

15. When a Depositor is transferred from one ship to another, or if a Marine, from a Ship to Quarters, his account shall 1)0 closed on board the Ship he leaves, and unless he requires to withdraw his deposits, as provided by Sec. 10 of these regulations, it shall be re-opened on board the Ship or at the Quarters he joins, by a Transfer List showing the balance and interest due to him.
16. The Transfer List shall be made out and signed by the Paymaster and two copies made thereof. The original Transfer List, with the Depositor's Ledger Account, shall be sent to the Accountant-General of the Navy; the duplicate list shall be sent to the Ship or Quarters to which he may be transferred, and the triplicate list shall be retained on board the Ship issuing the Transfer List.

Depositors discharged or promoted,

17. On a Depositor being discharged the Service, or ceasing by promotion to be eligible to continue a Depositor, no further interest shall accrue on his deposits, but his account shall be closed, and he may either receive his money from a Paymaster, or have the same transferred for investment in a Post Office Savings Bank, or assigned for payment at the Admiralty Office.

Depositors sent to Hospital,

18. On a Depositor being sent to Hospital a Transfer List as provided for in Sec. 16 shall be sent with him, to be forwarded with his Pay Documents (should he be invalided) to the Accountant-General of the Navy, or to the Ship the Depositor may join on his arrival home ; the original of such list is to be sent in the usual manner to the Accountant-General of the Navy, but the Depositor's Ledger Account need not be sent, until it is known that the Depositor will not return to the Ship, when it is to be forwarded with a notation thereon showing the man's disposal.
19. The transaction is to be shown as an ordinary transfer issued in column 5 of the Abstract Account ; and should a Depositor whose account is so transferred rejoin his Ship, the Transfer List is to be returned to him, and the amount of principal thereon is to be entered on the date of rejoining as a transfer received in column 3 of the Abstract Account.

Depositors dying.

20. On the death of a Depositor no further interest shall accrue on his deposits, but his account shall be closed and transferred, with his Pass Book, to the Accountant-General of the Navy, for settlement with his representatives. The amount is not to appear in the Paymaster's Cash Account, nor to be inserted in Form S. 46 (late S. 54), " Accounts of Dead and Run Men."

Transfers to Shore Banks.

21. A Depositor, while continuing in the Service, may have his account transferred to a Shore Bank, i.e., a Dockyard or Divisional Bank, for the purpose of investment. In such case the procedure shown under Sec. 16 shall be followed — the original Transfer List with the Depositor's Ledger Account being sent to the Accountant-General of the Navy, duplicate list to the Shore Bank, and a triplicate list retained on board.

Interest.

22. Interest at the rate of £2 10s. per cent, per annum shall be allowed to Depositors on every complete pound deposited, such interest to commence on the first day of the month when the deposit is made during the first ten days of a month, and on the first of the following month on a deposit made during the remaining portion of a month ; when the whole or any portion of the amount deposited is repaid, interest on the sum withdrawn is to close with the last day of the month preceding that in which the payment is made. On the 31st March in each year the interest due to each Depositor shall be computed, and so much of it as consists of entire pounds and shillings shall be added to the principal of each account ; any fractional part of a shilling shall remain as interest to be added to that subsequently accruing. The amounts carried over to principal shall be entered in the Pass Books of the respective Depositors, duly initialled by the Paymaster and verified by the initials of the witnessing officer appointed under Sec. 4.

The total amount of interest added to principal shall be credited in the Cash Account as a payment on account of interest and debited as a receipt on account of deposits and inserted in column 2 of the Abstract Account.

This regulation shall apply, however, only to new accounts in ships commissioned on and after the 1st January 1907 and to Depositors who, having opened such new accounts, may be subsequently transferred. Interest on accounts in Ships commissioned before that date, and on accounts transferred from such Ships, shall be calculated at the rate of £3 15s. per cent, per annum, but such interest is not to be added annually to principal, and shall only be paid to the Depositor when the whole balance is withdrawn.

Bank Ledger,

23. A Ledger shall be kept by the Paymaster, and secured under lock and key, in which are to be entered the several sums debited or credited to the account of each Depositor.

Abstract Account,

24. The Paymaster shall keep an Abstract Account for the deposits, withdrawals, and transfers, and regularly post therein, in order of date, the totals of the respective lists, and also the interest paid to Depositors. An extract from such Abstract Account shall be prepared monthly, showing the transactions and the particulars of transfers received from other banks during the period and forwarded to the Accountant-General of the Navy ; if no transactions should take place during any such period a "Nil'' return is to be forwarded.

Entries in Pass Books and Ledger Accounts.

25. All amounts received (whether by transfer or in cash) during the first ten days of a month, shall be entered to the credit of the Depositor in his Pass Book on the day when received, but under date in the Ledger Account for interest purposes, from the first day of that month, and all amounts received from the eleventh to the last day of the month (both inclusive) are to be entered in the Pass Book on the day when received, but under date in the ledger, for interest purposes, from the first day of the succeeding month.
26. In like manner all amounts withdrawn during a month shall be entered in the Pass Book, to the debit of a Depositor on the day when withdrawn, but under date in the ledger, for interest purposes, from the first day of that month.

Transfers from Shore Banks,

27. Interest on an account transferred for investment from a Shore Bank to a Ship Bank, shall be extended from the date to which the interest was calculated on the Transfer List, at the rate of £2 10s. per cent, per annum, to the date when interest commences in the Ship Bank.
28. Where an amount to the credit of a Depositor in a Shore Bank is transferred to a Ship for payment, the same shall be brought to account in column 3 of the Abstract Account as a transfer received, and in column 4 as a withdrawal. When the whole account is transferred the interest paid shall be shown in column 7 ; such amounts are not to be passed through the Savings Bank Ledger ; the payment is to be shown on a Withdrawal List, and the Transfer List received from the Shore Bank shall be attached thereto as a voucher.

Interest on an amount transferred for payment shall also be extended, at the rate of £2 10s.. per cent, per annum, from the date to which interest was calculated on the Transfer List, to the last day of the month preceding that in which the payment is made.

Annual Schedule of Balances and Interests

29. A Schedule shall be prepared from the Ledger of the balances and interest due to each Depositor on the 31st March in each year and also the amounts of interest added to principal on that date. The Schedule shall be prepared by the Paymaster and shall be signed by him and also by a Commissioned Officer (to be appointed by the Commanding Officer), who shall compare the amounts entered thereon with the amounts standing to each Depositor's credit in the Savings Bank Ledger, and append a certificate that such comparison has been made. The Schedule shall be forwarded as soon as practicable afterwards to the Accountant-General of the Navy.

Supersession of Paymaster,

30. Whenever a Paymaster is superseded, he shall transmit to the Accountant-General of the Navy an Abstract Account for the whole period of his charge, in the same form as rendered when a Ship is paid off. The balance of such account shall be verified by comparison with a Schedule, to be prepared from the Savings Bank Ledger, of the amounts due to the Depositors.
31. The preparation of this Schedule shall be superintended by a Commissioned Officer, to be appointed by the Commanding Officer ; such officer shall also require the production of the Depositors' Pass Books, and compare in each case the balance shown as due, with the amount standing to the Depositors' credit in his Pass Book, and in the Savings Bank Ledger, previously to signing the certificate at the foot of the Schedule, which is also to be forwarded to the Accountant-General of the Navy.

Pay off.

32. When a Ship is paid off, all Depositors may have their principal and interest, or any part of the same —
1. Paid in cash by the Paymaster in the presence of the Commanding Officer, at the time the crew are paid their wages.
2. Remitted for payment at their own homes on Form S. 66.
3. Transferred to a Receiving Ship or Naval Barracks or a Dockyard Bank (in the case of Seamen) or a Marine Bank (in the case of Marines) for payment.
4. Transferred to a Dockyard Bank (in the case of Continuous Service Seamen) or a Marine Bank (in the case of Marines) for the purpose of continuing the investment.
5. Assigned for payment at the Admiralty Office.
6. Transferred to the Accountant-General of the Navy for investment in a Post Office Savings Bank, on the distinct understanding, however, that it is not with a view of Depositors shortly withdrawing the amounts so transferred.
33. The amounts remitted on Form S. 66 are first to be treated as withdrawals from the bank, and entered in the Withdrawal List, the Paymaster crediting himself with the amounts.
34. In the case of a Ship paid off abroad, the account of any Depositor whose time is not expired, or who volunteers for the new commission, or for any other Ship on the station, shall, subject to his general liberty of withdrawal and liberty of investment under the above provisions, be transferred to the Ship he joins.
35. When a Ship is ordered to be paid off, a notice shall be posted in some conspicuous place on board, calling the attention of Depositors to the several alternatives open to them.
36. After ascertaining the wishes of the Depositors the Paymaster shall close the Ledger Accounts, make out the requisite Transfer Lists, prepare the final Withdrawal List, and after insertion of the several transactions in the Abstract Account, balance the same, taking care that the total of principal in the final Withdrawal List agrees with the aggregate balance of the same appearing due in the Abstract Account.
37. The sums then due to the Depositors, as scheduled in the final Withdrawal List for payment in cash, shall be paid in the presence of the Commanding Officer at the time the Ship's Company are paid their wages.
38. Should a Depositor fail to present himself to receive the amount due to him at the pay off, a Transfer List assigning the amount due for payment by the Accountant-General of the Navy shall be made out and transmitted with the final Withdrawal List.
39. The final Withdrawal List, the Abstract Account, and the ledger, with all other Savings Bank documents on board, shall then be sent to the Accountant-General of the Navy.

Transfers to Post Office Savings Bank.

40. As regards transfers to the Post Office Savings Bank (which are to be effected for the purpose only of continuing the investment of Depositors' money), the Paymaster shall send to the Accountant-General of the Navy a list of the amounts to be so invested, accompanied by a declaration from each Depositor in the Form prescribed by the Postmaster-General.

Ledger Accounts.

41. All Depositors' accounts closed either by withdrawal or transfer shall be removed from the ledger and sent to the Accountant-General of the Navy with the Withdrawal or Duplicate Transfer Lists in which the balances withdrawn or transferred respectively appear, observing that these directions do not apply to the final Withdrawal List, which is to be accompanied by the ledger itself.

Deserters' Accounts.

42. Interest on the balance of deposits due to a deserter shall cease on the last day of the month preceding that in which the desertion occurs.

In the event of a deserter being subsequently recovered interest on the balance of deposits due on his account shall recommence on the first day of the month following the date o£ recovery.

All unpaid accounts of deserters shall be transferred, at the close of the Commission, to the Accountant-General of the Navy.

Transfers to Admiralty.

43. When a Depositor's account is assigned for payment at the Admiralty, the Transfer List shall be prepared in duplicate only, the original list being sent direct to the Accountant-General of the Navy and the Ship's copy being retained on board.

Home Station Ships having no Bank.

44. In Home Station Ships having no bank on board (to which the foregoing regulations do not apply) the following Rules shall be observed : —
1. When Depositors' accounts are transferred for payment the Paymaster shall at the time of payment prepare a Withdrawal List, to which shall be appended a certificate to be signed by him, that the amounts have been duly paid. The payments shall be witnessed by a Commissioned Officer, to be appointed by the Commanding Officer, who shall initial the entries of the transactions in the Depositors' Pass Books. The signatures of the Depositors shall be obtained on the Withdrawal List as receipts for the amounts entered against their names.
2. In any case where a Depositor's Pass Book cannot be produced, payment shall not be made without authority from the Accountant-General of the Navy, to whom information of the circumstances shall be reported.
3. The Withdrawal List is to be sent, with the Transfer Lists attached thereto, and the Depositors' Pass Books, to the Accountant-General of the Navy.
4. Should any Depositor whose account may be so transferred not apply for his money within two months after the receipt on board of the Transfer List, such list shall be forwarded to the Accountant-General of the Navy, with a notation of the circumstances thereon.
5. In any case where it is known on board that a Depositor for whom a Transfer List has been received has proceeded to another Ship, such Transfer List, or where several names are included in the same list, an extract from such list shall be forwarded to the Ship which the man has joined.
6. In any case where a Depositor applies for payment of his account and a Transfer List for the same has not been received, information of the circumstances shall be reported to the Accountant-General of the Navy, who will issue an authority for payment, if practicable.
7. In the event of the Admiralty portion or Ship's (triplicate) copy of a Transfer List being received on board, payment shall not be made, but the list in question shall be forwarded to the Accountant-General of the Navy with a report as to the circumstances of its receipt.
8. Interest on an account transferred for payment is, where necessary, to be extended from the date to which the interest was calculated on the Transfer List, to the last day of the month preceding the date of payment.

Cash Voucher.

45. A voucher in which the amounts received and paid during a month shall be respectively shown shall accompany the Paymaster's Cash Account.

Transaction not to appear in Pay Documents or Ships' Books,

46. No transaction arising out of the business of Naval Savings Banks shall be shown in any way in the Depositors' Pay Documents or the Ships' Books, but the records of the same shall be kept perfectly distinct and disconnected from all other accounts, excepting only the Paymaster's Cash Accounts, in which shall be debited and credited respectively the amounts deposited and withdrawn on board ship.

Mutual Benefit Societies.

47. The funds of Mutual Benefit Societies formed on board H.M. Ships may be invested in the Naval Savings Banks subject to the following rules : —
1. The Admiralty will in no way be responsible in regard to the management of the affairs of the Society, its stability, or the distribution of its funds.
2. Deposits will be received from a Society composed only of Petty Officers and Seamen of the Royal Navy, and Non-Commissioned Officers and Privates of the Royal Marines.
3. Such Society must be approved of by the Commanding Officer of the Ship, and have a duly elected Secretary or other responsible Officers and Committee, a list of whom shall be deposited in the hands of the Paymaster.
4. The bank business connected with the Society will be transacted with the Secretary or other Officer direct, who with the Committee will be answerable to the members of the Society for the due administration of the funds.
5. An account shall be opened in the Naval Savings Bank Ledger on board bearing the title of the Society, viz. : — Mutual Benefit Society of H.M.S. ______________," in which shall be posted all receipts and payments in connection with the Society.
6. No amount less than one pound sterling nor any fractional part of a pound sterling shall be received into, or withdrawn from, the bank on account of the Society.
7. This Trust Fund Account shall be kept entirely distinct from any personal account of the Officer in whose name the deposits are made on behalf of the Society.
8. Withdrawals shall be made on written requisitions signed by two members of the Committee, such requisitions shall contain a form of receipt for the amount withdrawn.
9. The receipts for the amounts withdrawn shall be signed by the Secretary or other representative Officer.
10. Deposits and Withdrawals are to be entered by the Paymaster in the ordinary Deposit and Withdrawal Lists (Forms S. 475 and S. 477) amongst those of other Depositors, the title of the Society being inserted in the space provided for the Depositor's name.
11. The authorities mentioned in Clause 8, under which payments are made to the Secretary or other representative Officer, are to be appended to the Withdrawal Lists as vouchers.

Regulations for the Conduct of Naval Savings Banks in H.M. Dockyards.

Naval Savings Banks.</P>

1. Naval Savings Banks are established in His Majesty's Dockyards at Chatham, Sheerness, Portsmouth, and Devonport, for the receipt of deposits from seamen of the Royal Navy in pursuance of "The Naval Savings Bank Act, 1866," and Order in Council of the 2nd March 1881.

The Cashier is regarded as the Manager of the bank, and its general supervision is to be vested in the superintendent.

Hours of business.

2. The bank is to be open for the receipt and withdrawal of deposits every day between the hours of 10 a.m. and 3 p.m. except on Saturdays, when it will close at noon. It will be closed on Sundays and public holidays, and on days when the Yard is closed.

Minimum deposit.

3. No sum less than one shilling is to be received, nor any fractional part of a shilling. Subject to this the Cashier is to receive from any person, other than a Marine, entitled under the Act to be a Depositor in the Naval Savings Bank, any sum of money tendered or remitted for deposit.

Depositor’s certificate. Form 573.

4. Every Depositor is to be furnished with an acknowledgment of his having opened an account, and this should be produced whenever he appears personally at the bank, and previously to any withdrawals under Article 8, If the account is opened by cash personally tendered, the acknowledgment is to be handed to him by the Cashier ; if by means of allotment or remittance, it is to be transmitted to him through the Commanding Officer of his ship. Deposits personally tendered and payments to the Depositors direct from the bank are to be entered on the Form of acknowledgment, and such entries are to be verified by the initials of the Cashier.
5. For each Depositor an account is to be opened in the Bank ledgers, bank ledgers, in which all deposits and withdrawals are to be Form 584 entered at the time of receipt or payment, and verified by the initials of the Cashier.

The ledgers are to be kept under lock and key in the custody of the Cashier.

Depositors may be allowed to inspect, and, should they request it, be furnished with statements of, their accounts.

Deposits, allotments, and remittances.

6. A seaman afloat may remit sums of not less than one, pound through the Paymaster of his ship for deposit in a Yard, Bank. He may also make an allotment of his pay for investment in a Yard Bank. Where a deposit is made by allotment the requisite authority will be issued by the Accountant- General of the Navy.

The amounts allotted or remitted are to be regarded as transfer transactions only, to be taken credit for by the Cashier in his Cash Account as payments on account of allotments or remittances, and debited as receipts on account of Naval Savings Banks.

List of allotments Form 573.

The total amount credited in the Depositors' accounts each month on account of allotments is to be brought to account in one sum in the Cash Account, and the amount reported to the Accountant-General of the Navy on the prescribed form. A detailed list of the deposits made by allotment is to be transmitted quarterly to the Accountant-General of the Navy, showing the allotment number and the monthly credits in the Depositor's account in respect of each allotment.

List of deposits. Form 574

7. The Cashier is to forward to the Accountant-General of the Navy a list of amounts deposited each day in cash or by remittance, certifying that they have been credited in the Depositor's accounts and debited in his Cash Account.

Withdrawals

8. A Depositor on applying at the bank within the prescribed hours, and producing the acknowledgment referred to in Article 4 and other evidence of his identity, if deemed necessary, may withdraw the whole or any part of his deposits,

Depositors afloat. Form S. 495.

Payment to nominee, Form S. 494.

A Depositor may, while serving afloat, and absent from the port, withdraw the whole or any part of his money on forwarding to the Cashier a request for the same, certified by the Commanding Officer of the ship in which he is serving {see Article 9) ; or payment of the whole or any portion of his money may be made to another person on the Depositor's order, certified by his Commanding Officer. In the latter case. the order for payment is to be prepared on board the Depositor's ship in duplicate, one copy to be forwarded to the Cashier, and the other to the payee.

Depositors on leave. Form 576.

If a Depositor who is on leave at a distance from the port wishes to be paid the whole or a portion of his money, the Cashier is to forward to him a form of request for his signature before a magistrate, or other competent authority. On its return duly signed and attested, accompanied by the acknowledgment referred to in Article 4, the Cashier will remit the money. If, however, the Cashier should entertain any doubt of the applicant's title he is to make such further inquiry and obtain such further evidence as he may deem requisite.

Re-investment.

A Depositor withdrawing any sum cannot be permitted to re-invest it, or any part of it, the same day.

Interest.

Accruing interest is only payable when the total amount deposited is withdrawn.

No fractional part of a shilling may be withdrawn, except when a Depositor's account is closed and the interest is paid. In the latter case no fractional part of a penny is to be paid.

Withdrawal list. Form 577.

At the close of each day upon which withdrawals take place, the Cashier is to total the Withdrawal List, and take credit for the total amount withdrawn in his cash account. The list is to be duly certified by himself, and forwarded to the Accountant-General of the Navy. The signatures on the list are to be attested by a witness. The authorities under which payments are made to Depositors or to other persons by their order are to be appended to the list as vouchers.

Transfer of account to ship. Form S. 496.

Transfer list. Form 578.

9. A Depositor may have his money transferred to the ship to which he belongs for the investment in the Ship Bank, or he may have the whole or portion of his money transferred for payment on board. In either case, the Cashier, on receipt of a request from the Depositor, duly certified by the Commanding Officer of his ship, is to issue in duplicate a Transfer List for the amount, one copy to be sent to the Commanding Officer of the Ship, and the other to the Accountant-General of the Navy.

A similar course is to be pursued on the transfer of a Depositor's account from one Dockyard Bank to another.

Transfer from ship. Form 579.

A continuous service seaman who is a Depositor in a ship may, on being paid off, have his account transferred to a Dockyard Bank. The Cashier is to forward to the Accountant- General of the Navy an abstract of such transfers at the end of every month.

Interest.

10. Interest at the rate of 2½ per cent, per annum is to be allowed to Depositors on every complete pound deposited. Deposits made during the first 10 days of each month are to bear interest from the first day of the month, and those made during the remainder of the month from the first day of the following month. When the whole or any portion of the amount deposited is repaid, or transferred under the preceding Article, interest on the sum withdrawn is to cease with the last day of the month preceding that in which the payment or transfer is made.

Remittances

As regards deposits by remittance, the date of the issue of the remittance list on board ship is to be taken as the date of the receipt of the deposits into the bank.

Accounts transferred from ships

Interest on an account transferred from a ship commissioned before 1st January 1907, or an account transferred from a ship commissioned after 1st January 1907 which had been transferred from a ship commissioned prior to that date, is to be calculated at the rate of 3¾ per cent, per annum (simple interest) to the date when interest commences in the Dockyard Bank.

Interest is to be computed to the 31st March in each year, and then so much of it as consists of entire pounds and shillings is to be added to the principal of each account, any fractional part of a shilling is to remain as interest to be added to that subsequently accruing. The total amount carried over to principal is to be taken credit for in the Cash Account as a payment on account of interest, and debited as a receipt on account of deposits, and inserted in column 2 of the Abstract Account {see Article 11).

Abstract Account. Form 580.

11. The Cashier is to keep an Abstract Account of the deposits, withdrawals, and transfers, and post therein daily the totals of the respective lists, and also the interest paid to depositors.

The Abstract Account is to be balanced on the 31st March in each year and forwarded to the Accountant-General of the Navy.

Schedule of balances. Form 583.

12. On the 31st March in each year a schedule of the balances and interest due to Depositors to that date is to be prepared, and forwarded to the Accountant-General of the Navy, with the Abstract Account. The Cashier is to append a certificate of its accuracy.

Closed accounts,

13. All Depositors' accounts, when closed by the withdrawal or transfer of their entire balances, are to be removed from the ledger and sent to the Accountant-General of the Navy, with the Withdrawal or Transfer Lists.

With a view to closing old accounts the ledgers are to be frequently inspected, and application is to be made to the Accountant-General of the Navy for the addresses of the Depositors whose accounts show no transactions over a period of two years. The wishes of such depositors in regard to their accounts are to be ascertained.

Death, promotion, or desertion of depositor.

On receipt of information of the death, discharge, promotion to warrant rank, or desertion of a Depositor, his account is to be closed and transferred to the Accountant-General of the Navy, and no further interest shall accrue from the date of such discharge, &c.

Correspondence.

14. All communications of a routine nature from the Accountant-General of the Navy relative to Naval Savings Bank business will be addressed direct to the Cashier.

[Regulations for R.M. Savings Banks are not included here]

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