Appropriation Act, 1966
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Post Office Savings Bank and trustee savings banks—rates of interest. |
3.—(1) Section 14 (2) of the Finance Act, 1948 , is hereby amended, with effect as on and from the 1st day of January, 1967, by the substitution of “three and one-half per cent. per annum” for “two and one-half per cent. per annum”. | |
(2) The words “and the interest payable to depositors by the trustees of any trustee savings banks shall not exceed the rate of two pounds ten shillings per centum per annum,” in section 5 of the National Debt (Supplemental) Act, 1888 , and the words “Notwithstanding anything contained in section 5 of the National Debt (Supplemental) Act, 1888 ,” in section 29 (1) of the Finance Act, 1946 , are hereby repealed and, with respect to the period from the 21st day of December, 1966, to the 31st day of that month, the said section 29 (1) shall have effect subject to the substitution of a reference to a rate of three and one-half per cent. per annum for the reference to the rate for the time being payable on a deposit in the Post Office Savings Bank. | ||
(3) Section 31 (3) (d) of the Finance Act, 1940 , as amended by section 78 of the Finance Act, 1959 , is hereby amended by the substitution of “four and one-tenth per cent. per annum” for “three per cent. per annum.” |