S.I. No. 127/1974 - Savings Certificates (First Issue Extension) Rules, 1974.

S.I. No. 127 of 1974.

SAVINGS CERTIFICATES (FIRST ISSUE EXTENSION) RULES, 1974.

I, RICHIE RYAN, Minister for Finance, in exercise of the powers conferred on me by section 30 (2) of the Finance Act, 1940 (No. 14 of 1940), hereby make the following rules:

1. (1) These Rules may be cited as the Savings Certificates (First Issue Extension) Rules, 1974.

(2) The Savings Certificates (First Issue Extension) Rules, 1953 ( S.I. No. 322 of 1953 ), and these Rules may be cited together as the Savings Certificates (First Issue Extension) Rules, 1953 and 1974.

2. In these Rules—

"the first issue" means the issue of savings certificates introduced on the 18th day of June, 1923, and discontinued on the 20th day of February, 1931;

"relevant date" means, in relation to a savings certificate, the fifty-first anniversary of the date marked thereon as the date of issue thereof;

"unit certificate" means a savings certificate of the first issue the purchase price of which was seventy-seven and one half pence.

3. A savings certificate of the first issue may be held for a period not exceeding five years from the relevant date.

4. The amount repayable at any time in respect of a savings certificate of the first issue which is held under these Rules shall be—

	£
(a) in the case of a unit certificate—
(i) if it is held for less than six months from the relevant date	4·37½
(ii) if it is held for six months or more and less than one year from such date	4·56
(iii) if it is held for one year or more and less than one and one half years from such date	4·75
(iv) if it is held for one and one half years or more and less than two years from such date	4·94
(v) if it is held for two years or more and less than two and one half years from such date	5·15
(vi) if it is held for two and one half years or more and less than three years from such date	5·36
(vii) if it is held for three years or more and less than three and one half years from such date	5·59
(viii) if it is held for three and one half years or more and less than four years from such date	5·82
(ix) if it is held for four years or more and less than four and one half years from such date	6·06
(x) if it is held for four and one half years or more and less than five years from such date	6·32
(xi) if it is held for five years from such date	6·58
(b) in any other case, in a proportionate manner.

5. Subject to the provisions of these Rules, the Savings Certificates Rules, 1926, shall apply, with the necessary modifications, in relation to a savings certificate which is held under these Rules.

GIVEN under my Official Seal, this 8th day of May, 1974.

RICHIE RYAN,

Minister for Finance.

EXPLANATORY NOTE

This instrument prescribes the rules governing the extension of the First Issue of Savings Certificates.