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<h1>Nomination rights: depositors may designate nominees to receive funds on death; guardian designates for minors and unsound mind.</h1> The amendment requires depositors to designate one or more nominees entitled to receive sums due on death, specifying ownership or trust and extent of entitlement; if the depositor is a minor or of unsound mind the guardian must designate the nominee; and any permitted transfer of a deposit under a savings scheme automatically cancels a prior nomination.