Any one can become a Depositor in the Post Office Savings Bank and
obtain a deposit-book, or cause another person to obtain one, upon
making, in conformity with the regulations, a payment at a Receiving
Office, of a given sum within the prescribed limits.
Societies, Unions, Cooperative Associations and persons having a legal
position are competent depositors in the Post Office Savings Bank.
The person in whose name the book has been issued is to be regarded as
the Depositor.
No Depositor is permitted to obtain, or cause to be obtained on his
behalf, more than one deposit-book issued in his name; on the other
hand every one is free, beyond their own deposit-books, to obtain for
other, wholly distinct persons, deposit-books and to pay in deposits on
their behalf.
Whoever in favour of another,--the depositor,--pays in the first
payment and signs the deposit-book in his name is called the Payer.
Any one can be a Depositor who can read and write. Minors no more than
persons having a legal position are debarred from being depositors.
The Post Office Savings Bank regards the Payer as empowered in the name
of the Depositor to dispose of the balance to his credit as long as the
latter has not informed the Post Office Savings Bank that it is against
his will.
This can be done by the Depositor signing his own name in the
deposit-book at a post office.
The admission of the signature can take place:
_a_) In the presence of and with the consent of the Payer;
_b_) Without the intervention of the Payer.
In the first case the Payer confirms the authenticity of the signature,
in the second case the Depositor has to establish his own personal
identity.