S.I. No. 533/2012 - Post Office Savings Bank (Interest on Deposits) Regulations 2012.

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 28th December, 2012.

The National Treasury Management Agency, in exercise of its powers under the National Treasury Management Agency Act 1990 (No. 18 of 1990) and the National Treasury Management Agency Act 1990 (Delegation of and Declaration as to Functions) Order 1990 ( S.I. No. 277 of 1990 ), hereby makes the following Regulations:

1. These Regulations may be cited as the Post Office Savings Bank (Interest on Deposits) Regulations 2012.

2. These Regulations shall be deemed to have come into operation on the 16th day of December 2012.

3. The rate of interest on a deposit within the meaning of section 14 (1) of the Finance Act 1948 is hereby prescribed as 0.25 per cent per annum.

4. The Post Office Savings Bank (Interest on Deposits) Regulations 2007 ( S.I. No. 828 of 2007 ) are hereby revoked.

GIVEN under the Seal of the National Treasury Management Agency,

17 December 2012.

JOHN C CORRIGAN,

Chief Executive.

EXPLANATORY NOTE

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

The purpose of these Regulations is to prescribe a new rate of interest for deposits in the Post Office Savings Bank.