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[Cites 0, Cited by 0] [Section 12] [Entire Act]

Union of India - Subsection

Section 12(1) in The Post Office Savings Bank General Rules, 1981

(1)Subject to the provisions of sub-rules (2) to (7), an adult opening a single account or two adults or three adults opening a joint account, may by furnishing the necessary particulars in Form-1 at the time of opening the account, nominate person or persons who in the even of death of the depositor or all the depositors, as the case may be, shall become entitled to payment of the amount due on the account and if such nomination is not made at the time of opening the account, it may be made by the depositor of a single account or by the depositors or the surviving depositor or depositors of a joint account at any time after the opening of the account but before its closure, by means of an application in Form-2 accompanied by the passbook, to the Post Office Savings Bank where the account stands.