S.I. No. 239/1973 - Post Office Savings Bank (Interest on Deposits) (No. 2) Regulations, 1973.

S.I. No. 239 of 1973.

POST OFFICE SAVINGS BANK (INTEREST ON DEPOSITS) (No. 2) REGULATIONS, 1973.

I, RICHIE RYAN, Minister for Finance, in exercise of the powers conferred on me by section 9 (1) of the Finance (No. 2) Act, 1968 (No. 37 of 1968), hereby make the following regulations:

1. These Regulations may be cited as the Post Office Savings Bank (Interest on Deposits) (No. 2) Regulations, 1973.

2. These Regulations shall come into operation on the 1st day of September, 1973.

3. The rate of interest on a deposit within the meaning of section 14 (1) of the Finance Act, 1948 (No. 12 of 1948), is hereby prescribed as seven per cent. per annum.

4. The Post Office Savings Bank (Interest on Deposits) Regulations, 1969 ( S.I. No. 16 of 1969 ), and the Post Office Savings Bank (Interest on Deposits) Regulations 1973 ( S.I. No. 210 of 1973 ), are hereby revoked.

GIVEN under my Official Seal, this 17th day of August, 1973.

RICHIE RYAN,

Minister for Finance.

EXPLANATORY NOTE.

These regulations prescribe as seven per cent. per annum the rate of interest payable on deposits in the Post Office Savings Bank as from 1 September, 1973.