S.I. No. 169/1941 - Savings Certificates (Second Issue Extension) Rules, 1941.


STATUTORY RULES AND ORDERS. 1941. No. 169.

SAVINGS CERTIFICATES (SECOND ISSUE EXTENSION) RULES, 1941.

The Minister for Finance, in exercise of the powers conferred on him by subsection (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 (Second Issue Extension) Rules, 1941.

2. In these Rules—

the expression " the Rules of 1926 " means the Savings Certificates Rules, 1926, made by the Minister for Finance on the 3rd day of December, 1926,

the expression " the second issue " means the issue of savings certificates introduced on the 13th day of April, 1931, and discontinued on the 22nd day of May, 1933,

the expression " unit certificate " means a savings certificate of the second issue the purchase price of which was sixteen shillings,

the expression " multiple certificate " means any savings certificate of the second issue, other than a unit certificate,

the expression " the date of maturity " means, in relation to any particular certificate, the tenth anniversary of the date marked thereon as the date of issue thereof.

3. Every certificate of the second issue may be held for a period (in these Rules referred to as the extension period) not exceeding twelve years from the date of maturity of such certificate.

4. Every certificate of the second issue which is held for the extension period or any part thereof shall, during that period or the part thereof for which such certificate is held, bear interest, in the case of a unit certificate, in accordance with the Schedule to these Rules or, in the case of a multiple certificate, in a proportionate manner.

5. Subject to the provisions of these Rules, the Rules of 1926 shall apply and have effect, with the necessary modifications, in relation to every certificate of the second issue which is held for the extension period or any part thereof while such certificate is so held.

SCHEDULE.

INTEREST BORNE BY A UNIT CERTIFICATE DURING THE EXTENSION PERIOD.

Period from Date of Maturity

Interest Payable"

Value of Certificate at End of Period

£

s.

d.

1st year

1d for each complete period of two months.

1

4

6

2nd to 7th years inclusive.

3d. for each complete period of four months.

1

9

0

8th to 12th years inclusive.

1d. for each complete month

1

14

0

GIVEN under the Official Seal of the Minister for Finance this 10th day of April, 1941.

J. J. McELLIGOTT.