Savings banks are divided into two categories, each class being subject to different tax consequences. The two classes are:

(1)companies formed to assume the business of trustee savings banks (see below) and formerly such banks themselves which had been certified under the Trustee Savings Banks Act 1863, 1954, 1969 or 1981;

(2)other savings banks or other banks for saving, i.e. excluding successors to trustee savings banks.

Savings banks include the National Savings Bank, some Scottish Savings Banks and Railway Savings Banks.

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