Statutory wording for minor accounts updated to replace ambiguous references, clarifying beneficiary phrasing in bank Act. Amendment clarifies wording in section 10 by substituting three specified phrases to standardise references to minors and their receipts: replacing "or on ... Summary
Statutory wording for minor accounts updated to replace ambiguous references, clarifying beneficiary phrasing in bank Act.
Amendment clarifies wording in section 10 by substituting three specified phrases to standardise references to minors and their receipts: replacing "or on behalf of, any minor" with "or on behalf of, a minor", changing "for his use" to "for the use of such minor", and substituting "receipt of any minor" with "receipt of the minor".
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