S.I. No. 195/1987 - Trustee Savings Banks (No. 3) Regulations, 1987.


S.I. No. 195 of 1987.

TRUSTEE SAVINGS BANKS (No. 3) REGULATIONS, 1987.

I, RAY MAC SHARRY, Minister for Finance, in exercise of the powers conferred on me by Section 41 of the Finance Act, 1968 (No. 33 of 1968), hereby make the following Regulations:

1. These Regulations may be cited as the Trustee Savings Banks (No. 3) Regulations, 1987.

2. These Regulations shall come into operation on the 21st day of August, 1987.

3. The rate of interest allowed on moneys standing to the credit of every separate investment account of a Trustee Savings Bank in the name of the Minister for Finance in the Post Office Savings Bank shall, in lieu of the rate specified in the Trustee Savings Banks (No. 2) Regulations, 1987 ( S.I. No. 155 of 1987 ), be 10.72 per cent. per annum.

4. The Trustee Savings Banks (No. 2) Regulations, 1987 ( S.I. No. 155 of 1987 ), are hereby revoked.

GIVEN under my Official Seal, this 17th day of July, 1987.

RAY MAC SHARRY,

Minister for Finance.

EXPLANATORY NOTE.

These regulations decrease to 10.72 per cent. per annum as from 21st August, 1987 the rate of interest payable by the Minister for Finance on moneys deposited with him by the trustee savings banks in every separate special investment account.