S.I. No. 132/1980 - Trustee Savings Banks (No. 2) Regulations, 1980.

S.I. No. 132 of 1980.

TRUSTEE SAVINGS BANKS (No. 2) REGULATIONS, 1980.

I, MICHEÁL Ó CINNÉIDE, Minister for Finance, in exercise of the powers conferred on me by section 41 of the Finance Act, 1968 (No. 33 of 1968), hereby make the following Regulations:—

1. (1) These Regulations may be cited as the Trustee Savings Banks (No. 2) Regulations, 1980.

(2) The Collective Citation "The Trustee Savings Banks Regulations, 1968 to 1980" shall include these Regulations.

2. These Regulations shall come into operation on the 1st day of May, 1980.

3. The rate of interest allowed on moneys standing to the credit of every separate investment account of a trustee savings bank in the name of the Minister for Finance in the Post Office Savings Bank shall, in lieu of the rate specified in the Trustee Savings Banks Regulations, 1980 ( S.I. No. 67 of 1980 ), be 15.15 percent.

4. The Trustee Savings Banks Regulations, 1980 ( S.I. No. 67 of 1980 ), are hereby revoked.

GIVEN under my Official Seal, this 1st day of May, 1980.

MICHEÁL Ó CINNÉIDE.

Minister for Finance.

EXPLANATORY NOTE

These Regulations increase to 15.15 per cent per annum as from 1st May, 1980 the rate of interest payable by the Minister for Finance on moneys deposited with him by the trustee savings banks in every separate special investment account.