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S.I. No. 311/1985 - Post Office Savings Bank (Interest on Deposits) (No. 3) Regulations, 1985.

S.I. No. 311 of 1985.

POST OFFICE SAVINGS BANK (INTEREST ON DEPOSITS) (NO. 3) REGULATIONS, 1985.

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) (No. 3) Regulations, 1985.

2. These Regulations shall come into operation on the 1st day of October, 1985.

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 6.50 per cent. per annum.

4. The Post Office Savings Bank (Interest on Deposits) (No. 2) Regualtions, 1985 ( S.I. No. 250 of 1985 ), are hereby revoked.

GIVEN under my Official Seal, this 19th day of September, 1985.

ALAN M. DUKES,

Minister for Finance.

EXPLANATORY NOTE.

These regulations prescribe as 6.50 per cent. per annum the rate of interest payable on deposits in the Post Office Savings Bank as from 1 October, 1985.