S.I. No. 295/1983 - Post Office Savings Bank (Interest on Deposits) Regulations, 1983.

S.I. No. 295 of 1983.

POST OFFICE SAVINGS BANK (INTEREST ON DEPOSITS) REGULATIONS, 1983.

I, ALAN M. DUKES, 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) Regulations, 1983.

2. These Regulations shall come into operation on the 1st day of November, 1983.

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 nine per cent. per annum.

4. The Post Office Savings Bank (Interest on Deposits) (No. 3) Regulations, 1982 ( S.I. No. 314 of 1982 ), are hereby revoked.

GIVEN under my Official Seal, this 13th day of October, 1983.

ALAN M. DUKES,

Minister for Finance.

EXPLANATORY NOTE.

These regulations prescribe as nine per cent. per annum the rate of interest payable on deposits in the Post Office Savings Bank as from 1 November, 1983.