S.I. No. 153/1987:

POST OFFICE SAVINGS BANK (INTEREST ON DEPOSITS) REGULATIONS, 1987.

POST OFFICE SAVINGS BANK (INTEREST ON DEPOSITS) REGULATIONS, 1987.

I, RAY MAC SHARRY, 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, 1987.

2. These Regulations shall come into operation on the 22nd day of June, 1987.

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 8.00 per cent. per annum.

4. The Post Office Savings Bank (Interest on Deposits) (No. 4) Regulations, 1986 ( S.I. No. 337 of 1986 ), are hereby revoked.

GIVEN under my Official Seal, this 19th day of June, 1987.

RAY MAC SHARRY,

Minister for Finance.

EXPLANATORY NOTE.

The regulations prescribe as 8.00 per cent. per annum the rate of interest payable on deposits in the Post Office Savings Bank as from 22nd June, 1987.