S.I. No. 322/1978 - Trustee Savings Banks (Interest on Deposits in Special Account) Regulations, 1978.

S.I. No. 322 of 1978.

TRUSTEE SAVINGS BANKS (INTEREST ON DEPOSITS IN SPECIAL ACCOUNT) REGULATIONS, 1978.

I, SEOIRSE Ó COLLA, Minister for Finance, in exercise of the powers conferred on me by section 9 (2) of the Finance (No. 2) Act, 1968 (No. 37 of 1968), hereby make the following regulations:

1. These Regulations may be cited as the Trustee Savings Banks (Interest on Deposits in Special Account) Regulations, 1978.

2. These Regulations shall come into operation on the 21st day of December, 1978.

3. The rate of interest on moneys paid by the trustees of every trustee savings bank into the special account referred to in section 31 (3) of the Finance Act, 1940 (No. 14 of 1940), is hereby prescribed as eight and one half per cent.

4. The Trustee Savings Banks (Interest on Deposits in Special Account) Regulations, 1977 ( S.I. No. 351 of 1977 ), are hereby revoked.

GIVEN under my Official Seal, this 24th day of November, 1978.

SEOIRSE Ó COLLA,

Minister for Finance.

EXPLANATORY NOTE.

These regulations prescribe the rate of interest payable on moneys paid by the trustees of every trustee savings bank into the special account in the name of the Minister for Finance as eight and one half per cent. per annum as from 21 December, 1978.