S.I. No. 158/1948 - Local Loans Fund (Rate of Interest) Direction 1948.

S.I. No. 158 of 1948.

LOCAL LOANS FUND (RATE OF INTEREST) DIRECTION 1948.

The Minister for Finance, in exercise of the powers conferred on him by the Local Loans Fund Act, 1935 (No. 16 of 1935), hereby directs as follows :

1. This direction may be cited as the Local Loans Fund (Rate of Interest) Direction, 1948.

2. The Interpretation Act, 1937 (No. 38 of 1937), applies to this direction.

3. The rate of interest on every issue made after the date of this direction on foot of a local loan shall, notwithstanding any direction previously given under the Local Loans Fund Act, 1935 (No. 16 of 1935), be 3¼% per annum.

GIVEN under the Official Seal of the Minister for Finance this 4th day of May, 1948.

J. J. McELLIGOTT.