S.I. No. 156/1969 - Decimal Currency (Variation of Certain Payments) Regulations, 1969.

S.I. No. 156 of 1969.

DECIMAL CURRENCY (VARIATION OF CERTAIN PAYMENTS) REGULATIONS, 1969.

I, SEOIRSE Ó COLLA, Minister for Industry and Commerce, in exercise of the powers conferred on me by section 16 of the Decimal Currency Act, 1969 (No. 23 of 1969), hereby make the following regulations:

1. These Regulations may be cited as the Decimal Currency (Variation of Certain Payments) Regulations, 1969.

2. A premium or other payment payable weekly or fortnightly on or after the 1st day of August, 1969, to a registered friendly society or an industrial assurance company under a friendly society or industrial assurance contract made before that date and consisting of or including a halfpenny shall be varied—

(a) in the case of every alternate premium or payment beginning with the first such premium or payment, by reducing it by half a penny, and

(b) in the case of every alternate premium or payment beginning with the second such premium or payment, by increasing it by half a penny.

GIVEN under my Official Seal this 1st day of August, 1969.

(Signed) SEOIRSE Ó COLLA,

Minister for Industry and Commerce.

EXPLANATORY NOTE.

The purpose of these Regulations is to provide a method by which weekly or fortnightly payments under friendly society or industrial assurance contracts which consist of or include a halfpenny shall be varied to take account of the calling in of halfpenny coins.