1925

A second issue of the Birmingham Municipal Bank Regulations was promulgated in 1925. On this occasion, the Regulations were published in a single small booklet, in a similar format to the original book of 1919 Rules, but now containing 93 regulations. Much more comprehensive than the first issue of Rules/Regulations, this publication was designed to combine both purposes of the original Rules and Regulations, as described by J P Hilton in Britain's First Municipal Savings Bank:

'In May, 1920, a Savings Banks Act was passed which amended existing enactments in respect of the limitation on deposits, the law regarding deposits of deceased depositors, etc. This new Act abolished the limitations on savings bank deposits, but provided machinery whereby the Treasury might limit the amount to be received in any one year.

'The Municipal Bank, by its regulations of 1919, was safeguarded on the question of limitations, and it was not considered necessary to take any step at that time, but when the Treasury imposed limits upon trustee savings banks, action was taken to amend our regulations.

'The Bank Committee gave the matter serious consideration, and several interviews took place at the Treasury before the amendments were agreed upon. The number of alterations and amendments made it difficult to distinguish between regulation and rule, and it was decided to amalgamate them and issue amended regulations in 1925.

'The main differences between the regulations and rules in 1919 and the amended regulations of 1925 relate to (1) deposits, which are now limited to £500 per year, without any limitation as to the total amount which may stand to the credit of a depositor; (2) withdrawals, which can now be made on short notice, in case of emergency, where the amount required exceeds the amount payable on demand; (3) improved procedure in respect of nominations; (4) alterations in procedure regarding accounts of deceased depositors; (5) rate of interest on house-purchase advances, which is now at the discretion of the committee; (6) revised procedure in respect of house-purchase transactions; and other minor matters.

'In considering the amendment of regulations, questions were raised as to obtaining further powers for the benefit of depositors, but it was found that parliamentary sanction would be necessary. For instance, requests have been made for moneys awarded to persons under the Workmen's Compensation Acts to be deposited in the Bank, which the committee would have liked to meet. We were told, however, that County Court procedure would have to be altered before that could be arranged. It is strange to the lay mind, that a High Court Judge can direct, and has directed, that moneys awarded to children of a deceased workman should be paid into the Bank, but a County Court Judge, who deals with many cases of compensation, has, apparently, no such authority. Solicitors have made application in open Court for the privilege, but without success. Another matter of importance is the question of assisting allotment-holders to purchase their allotments. To be able to help these cases would be a real benefit.'

1925 Index

Regulation Numbers (93)

Birmingham Municipal Bank Regulations, 1925

The 1925 Regulations came into force on April 1st 1925, as detailed in Regulation 4:

Commencement of Regulations and repeal
These Regulations shall come into operation on Wednesday, the First day of April, 1925, on and from which date the Birmingham Municipal Bank Regulations, 1919, and the Rules made and adopted by resolution of the Council of the City of Birmingham on the 29th day of July, 1919, are hereby repealed, without prejudice nevertheless to anything already done or proceeding taken in pursuance of such Regulations and Rules.

The 1925 publication contained an index of the regulations, and was split into three sections:

- Management (Regulations 1 to 21)

- Depositors' Department (Regulations 22 to 75)

- House Purchase Department (Regulations 76 to 93)