S.I. No. 220/1946 - Savings Certificates (Fourth Issue) Rules, 1946.

STATUTORY RULES AND ORDERS. 1946. No. 220.

SAVINGS CERTIFICATES (FOURTH ISSUE) RULES, 1946.

The Minister for Finance, in exercise of the powers conferred on him by sub-section (2) of section 30 of the Finance Act, 1940 (No. 14 of 1940), and of every and any other power him in this behalf enabling, hereby makes the following rules :—

1. These rules may be cited as the Savings Certificates (Fourth Issue) Rules, 1946.

2. In these rules—

the expression " the fourth issue " means the issue of savings certificates introduced on the day on which these rules are made ;

the expression " unit certificate " means a savings certificate of the fourth issue the purchase price of which is sixteen shillings.

3. A savings certificate of the fourth issue may be held for a period not exceeding eleven years from the date of purchase thereof.

4. A savings certificate of the fourth issue shall, during the period for which it is held, bear interest at the rate of—

(a) in the case of a unit certificate—

(i) three pence for the first complete year from the date of purchase,

(ii) three half pence for each complete period of four months from the first anniversary until the seventh anniversary of the date of purchase,

(iii) two pence for each complete period of four months thereafter,

(iv) an additional six pence on the eleventh anniversary of the date of purchase ;

(b) in any other case—in a proportionate manner.

5. Subject to the provisions of these rules, the Savings Certificates Rules, 1926, as amended by section 30 of the Finance Act, 1940 (No. 14 of 1940), shall apply, with the necessary modifications, in relation to a savings certificate of the fourth issue which is held under these rules.

GIVEN under the Official Seal of the Minister for Finance, this 25th day of July, 1946.

(Signed) J. J. McELLIGOTT.