S.I. No. 143/1964 - Savings Certificates (Fifth Issue Extension) Rules, 1964.

S.I. No. 143 of 1964.

SAVINGS CERTIFICATES (FIFTH ISSUE EXTENSION) RULES, 1964.

I, SÉAMAS Ó RIAIN, Minister for Finance, in exercise of the powers conferred on me by subsection (2) of section 30 of the Finance Act, 1940 (No. 14 of 1940), hereby make the following rules :

1. These Rules may be cited as the Savings Certificates (Fifth Issue Extension) Rules, 1964.

2. In these Rules—

" savings certificate of the fifth issue " means a savings certificate of the issue of savings certificates which was introduced as the fifth issue of savings certificates ;

" the date of maturity " means, in relation to a savings certificate of the fifth issue, the twelfth anniversary of the date of the purchase thereof ;

" unit certificate " means a savings certificate of the fifth issue the purchase price of which is one pound.

3. A savings certificate of the fifth issue may be held for a period not exceeding four years from the date of maturity thereof.

4. A savings certificate of the fifth issue which is held under these Rules shall, during the period for which it is so held, bear interest—

(a) in the case of a unit certificate, at the rate of—

(i) three pence for each complete period of three months until the first anniversary of the date of maturity,

(ii) four pence for each complete period of three months thereafter,

(iii) an additional three pence on the fourth anniversary of the date of maturity ;

(b) in any other case—in a proportionate manner.

5. Subject to the provisions of these Rules, the Savings Certificates Rules, 1926, shall apply, with the necessary modifications, in relation to a savings certificate of the fifth issue which is held under these Rules.

GIVEN under my Official Seal, this ninth day of June, 1964.

SÉAMAS Ó RIAIN,

Minister for Finance.

EXPLANATORY NOTE.

This instrument prescribes the rules governing the extension of the fifth issue of savings certificates.