S.I. No. 150/1959 - Trustee Savings Banks Regulations, 1940 (Amendment) Regulations, 1959.

S.I. No. 150 of 1959.

TRUSTEE SAVINGS BANKS REGULATIONS, 1940 (AMENDMENT) REGULATIONS, 1959.

I, SÉAMAS Ó RIAIN, Minister for Finance, in exercise of the powers conferred on me by section 31 of the Finance Act, 1940 (No. 14 of 1940), as amended by section 78 of the Finance Act, 1959 (No. 18 of 1959) hereby order as follows :

1. These Regulations may be cited as the Trustee Savings Banks Regulations, 1940 (Amendment) Regulations, 1959.

2. In respect of any period commencing on or after the 21st day of November, 1959, Regulation 7 of the Trustee Savings Banks Regulations, 1940 ( S. R. & O. No. 336 of 1940 ), shall have effect as if " three per cent." were substituted for " two and seven-eighths per cent." (inserted by the Trustee Savings Banks Regulations, 1940 (Amendment) Regulations, 1948 ( S.I. No. 243 of 1948 ) ).

GIVEN under my Official Seal, this 31st day of August, 1959.

SÉAMAS Ó RIAIN,

Minister for Finance.

EXPLANATORY NOTE.

These regulations increase to 3% per annum, as from 21st November, 1959, the rate of interest payable by the Minister for Finance on moneys deposited with him by the trustee savings banks.