Deposits by or on behalf of infants

(1) A registered society may receive deposits from or for the benefit of infants and it shall be lawful for a registered society to pay such infants the interest which may become due on such deposits. (2) Any deposits made by an infant may, together with the interest accrued thereon, be paid to that infant, and any deposits made on behalf of an infant may, together with the interest accrued thereon, be paid to the guardian of that infant for the use of the infant. (3) The receipt of any infant or guardian for money paid to him under this section shall be a sufficient discharge of the liability of the society in respect of that money.