Sri Lanka Consolidated Acts

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National Savings Bank Act (No. 30 of 1971) - Sect 43

Accounts by or on behalf of minors

43.
(1) The Bank may open accounts in the name of minors, or of guardians on behalf of minors.
(2) A minor who has completed not less than seven years of age may operate upon an account opened in his name in like manner as if he had attained majority:
(3) The whole or any part of the money standing to the credit of a minor under the age of seven years may be paid to any person who produces satisfactory proof to show that the minor is in his care.
(4) A guardian may operate upon an account in his name on behalf of a minor who has not completed six- teen years of age and a receipt signed by such guardian shall be a sufficient discharge for any payment made to him.


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