S.I. No. 323/1953 - Savings Certificates (Second Issue Extension) Rules, 1953.

S.I. No. 323 of 1953.

SAVINGS CERTIFICATES (SECOND ISSUE EXTENSION) RULES, 1953.

The Minister for Finance, in exercise of the powers conferred on him by subsection (2) of Section 30 of the Finance Act, 1940 (No. 14 of 1940), and of every and any other power him in this behalf enabling, hereby makes the following rules :—

1. These Rules may be cited as the Savings Certificates (Second Issue Extension) Rules, 1953.

2. In these Rules—

the expression " the Rules of 1926 " means the Savings Certificates Rules, 1926, made by the Minister for Finance on the 3rd day of December, 1926,

the expression " the second issue " means the issue of savings certificates introduced on the 13th day of April, 1931, and discontinued on the 22nd day of May, 1933,

the expression " unit certificate " means a savings certificate of the second issue the purchase price of which was sixteen shillings,

the expression " multiple certificate " means any savings certificate of the second issue, other than a unit certificate,

the expression " the date of maturity " means, in relation to any particular certificate, the tenth anniversary of the date marked thereon as the date of issue thereof.

3.—(1) A certificate of the second issue may, subject to the provisions of paragraph (2) of this Article, be held after the date of maturity thereof.

(2) Where the Minister for Finance, by notice published in " Iris Oifigiúil ' specifies a date, not earlier than the 22nd day of May, 1963, as the date after which no certificate of the second issue shall be held, no certificate of the second issue shall be held after the date so specified.

4. A certificate of the second issue which is held under these Rules shall, during the period for which it is so held, bear interest at the rate of—

(a) in the case of a unit certificate—

(i) one penny for each complete period of one month from the 13th to the 18th years inclusive from the date of maturity,

(ii) twopence for each complete period of one month thereafter,

(b) in any other case—in a proportionate manner.

5. Subject to the provisions of these Rules, the Rules of 1926 shall apply and have effect, with the necessary modifications, in relation to every certificate of the second issue which is held for the extension period or any part thereof while such certificate is so held.

GIVEN under the Official Seal of the Minister for Finance this 22nd day of October, 1953.

O. J. REDMOND.

A person authorised under section 15 of the Ministers and Secretaries Act, 1924 , to authenticate the seal of the said Minister.