S.I. No. 285/1970 - Government Loans (Redemption) Order, 1970.

S.I. No. 285 of 1970.

GOVERNMENT LOANS (REDEMPTION) ORDER, 1970.

I, SEOIRSE Ó COLLA, Minister for Finance, in exercise of the powers conferred on me by section 55 of the Finance Act, 1970 , (No. 14 of 1970), hereby order as follows:

1. This Order may be cited as the Government Loans (Redemption) Order, 1970.

2. The date for the redemption of the outstanding stock of—

( a ) the 3½% Exchequer Bonds 1965/70,

( b ) the 3½% Fourth National Loan 1950/70, and

( c ) the 3% Exchequer Bonds 1965/70,

shall be the 1st day of February, 1971, and interest at the rate of eight per cent. per annum shall be paid on the outstanding stock aforesaid in respect of the period from the 15th day of July, 1970, to the 1st day of February, 1971.

GIVEN under my Official Seal, this 24th day of November, 1970.

SEOIRSE Ó COLLA,

Minister for Finance.

EXPLANATORY NOTE.

This order fixes 1st February 1971 as the date for redemption of the Government loans specified therein the redumption of which was postponed because of the bank closure ( S.I. No. 201 of 1970 ). It also fixes eight per cent. per annum as the rate of interest to be paid on the redemption moneys for the period by which redemption will have been delayed.