The 1930 Regulations (which came into force on July 1st 1930) formed the basis for future issues over the next forty years, until
replaced by the completely reformatted 1970 Regulations
The Report of the Bank Committee, that preceded the introduction of the
new Regulations, was presented to the City Council on Tuesday, June 3rd 1930, included the following two subjects:
CORPORATION (GENERAL POWERS) ACT, 1929
By sections 56 and 57 of this Act, your Committee are now empowered to open branches in
areas adjoining the City, at the request, or with the approval, of the local authority concerned, and also to make advances to depositors
for the purchase of allotments
AMENDMENT OF REGULATIONS
Your Committee have to report that HM Treasury issued, in November
last, new regulations governing Trustee Savings Banks, many of which have a bearing upon the regulations of the Birmingham Municipal
Bank, and as it became necessary to amend several of the regulations arising out of the passing of the Birmingham Corporation (General
Powers) Act, 1929, the Committee have taken the opportunity of conferring with HM Treasury on the matter.
At the present time
the regulations of the Bank are those of 1925, supplemented by amendments in 1928 and 1929, and as further amendments are necessitated,
HM Treasury have concurred in the proposal to consolidate the whole of the regulations into a new set to be known as The Birmingham
Municipal Bank Regulations, 1930.
The majority of the alterations are consequential upon the passing of the Act of 1929, referred
to above, or are precedented by the Trustee Savings Bank Regulations of November, 1929, but your Committee have been successful in
obtaining the addition of one or two new regulations, to which attention is briefly drawn:
Regulation 9, governing the powers
and duties of the Committee of Management is now extended so as to permit of the provision for the safe custody of deeds, documents
and other securities belonging to depositors. Your Committee have felt for a long time that it would be an advantage if the Bank could
take charge of deeds, documents, etc., belonging to depositors, who have not adequate facilities for this purpose at their homes.
71 enables the Bank to invest such portion of its funds as may be thought desirable in Government securities maturing at a date not
later than 20 years from the date of investment.
By Regulation 77 the Bank will also be entitled to advance money for home purchase
up to 90 per cent. of the value of the property as ascertained by the Bank's Valuer.
The Regulations were divided into three
sections, as summarised below, and which are reproduced on this website: