S.I. No. 106/1993:

POST OFFICE SAVINGS BANK (INTEREST ON DEPOSITS) REGULATIONS, 1993

POST OFFICE SAVINGS BANK (INTEREST ON DEPOSITS) REGULATIONS, 1993

The National Treasury Management Agency, in exercise of the powers of the Minister for Finance under section 9 (1) of the Finance (No. 2) Act, 1968 (No. 37 of 1968), delegated to it by section 5 (1) of the National Treasury Management Agency Act, 1990 (No. 18 of 1990) and the National Treasury Management Agency Act, 1990 (Delegation of and Declaration as to Functions) Order, 1990 ( S.I. No. 277 of 1990 ), hereby makes the following Regulations:

1. These Regulations may be cited as the Post Office Savings Bank (Interest on Deposits) Regulations, 1993.

2. These Regulations shall be deemed to have come into operation on the 5th day of April, 1993.

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 4.5 per cent. per annum.

4. The Post Office Savings Bank (Interest on Deposits) (No. 3) Regulations, 1992 ( S.I. No. 291 of 1992 ), are hereby revoked.

GIVEN under the Seal of the National Treasury Management Agency

this 22nd day of April, 1993.

MICHAEL J. SOMERS,

Chief Executive.