The press release issued by HM Treasury on 17 June 2002.

Adjudicator for National Savings and Investments

Mr Roger Yeomans MA has been appointed under Section 84 of the Friendly Societies Act 1992 to be the independent Adjudicator for National Savings and Investments.

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HM Treasury
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020 7270 5238

1. Mr Yeomans, aged 42, succeeds Mr David Farrington, who served two full terms. He is an Ombudsman in the Banking & Loans Division of the Financial Ombudsman Service, and was the Building Societies Ombudsman until 1 December 2001. He is a solicitor whose earlier career was in private practice, after which he worked as a Corporate Lawyer with Alliance & Leicester Building Society.

2. Under the terms of Section 84 of the Friendly Societies Act 1992, the Treasury has the power to appoint an independent adjudicator to hear disputes between National Savings and Investments customers and the Director of Savings. The power of the Adjudicator to hear disputes derives from Section 10 of the National Savings Bank Act 1971, Section 5 of the National Debt Act 1972 and in a number of Statutory Instruments.

3. The legislation provides for disputes between investors and the Director of Savings to be referred to the Adjudicator, in writing, only where a claim has been made on, and declined, by the Director.

4. The Adjudicator is supported by a secretariat. Their address is: Secretary to the Adjudicator for National Savings and Investments, 1st floor, South Quay Plaza, 183 Marsh Wall, London, E14 9SR.