Government Savings Banks Act, 1873

This 1873 law governs how deposits in Government Savings Banks are handled, especially in special situations such as the death, minority, insanity, or marriage of the depositor. Section 4, as substituted in 1965, lets a depositor formally nominate someone to receive their deposit on death; the nominee's right overrides any will or other disposition, and if the nominee dies before the depositor or before collecting, the nomination lapses. A depositor can change or cancel a nomination at any time via notice to the Postmaster.

Where a depositor dies without a valid nomination and the deposit, or unnominated part, doesn't exceed twenty-five thousand rupees, and no probate, letters of administration, or succession certificate is produced within three months of death, Section 4(5) lets the Bank's Secretary pay the deposit to whoever appears entitled to receive it or administer the estate. Section 5 makes such payment a full legal discharge, while preserving the rights of the deceased's executor or administrator, or creditors, to later recover any unadministered balance from the person paid. Section 6 lets the Secretary require security from the person paid, and Section 7 lets the Secretary take sworn evidence to verify a claimant's right; making a false statement under this oath is punishable as an offence under Section 193 of the Pakistan Penal Code.

Section 8 provides a court-fee benefit: where a deceased's savings-bank deposit doesn't exceed three thousand rupees, that amount is excluded when calculating court fees for probate or letters of administration, provided a certificate of the deposit amount is produced to the court.

Section 10 allows deposits made by or for a minor to be paid to the minor personally, if they made the deposit, or to their guardian, plus interest, with the recipient's receipt being a full discharge. Section 12 lets the Bank pay out a mentally incapacitated depositor's funds to a proper person, but if a court-appointed committee or manager exists for that person's estate, payment can only go to them. Section 13 lets deposits made by or for a married woman be paid to her directly regardless of her marital-law status. Section 14 lets the Federal Government prescribe rules for how certificates and payments under Sections 8, 10, 12, and 13 are handled.

This is an 1873 statute, extensively amended, notably by Act XXIV of 1965 for Section 4, so current monetary limits should be confirmed against the latest official text.