Finance (No. 2) Act, 1968
|
Post Office Savings Bank and trustee savings banks—rates of interest. |
9.—(1) (a) On and after the 1st day of January, 1969— | |
(i) the rate of interest on a deposit, within the meaning of section 14 (1) of the Finance Act, 1948 , shall be the rate standing prescribed for the time being under this subsection, and | ||
(ii) section 14 (2) of that Act shall cease to have effect. | ||
(b) The Minister for Finance may from time to time prescribe by regulations the rate of interest on a deposit within the meaning of the said section 14 (1). | ||
(2) (a) On and after the 1st day of January, 1969— | ||
(i) there shall be paid to the trustees of every trustee savings bank interest at the rate standing prescribed for the time being under this subsection, on the moneys paid by such trustees into the special account referred to in section 31 (3) of the Finance Act, 1940 , and | ||
(ii) section 31 (3) (d) of that Act shall cease to have effect. | ||
(b) The Minister for Finance may from time to time prescribe by regulations the rate of interest on the moneys paid by the trustees of every trustee savings bank into the special account referred to in section 31 (3) of the Finance Act, 1940 . | ||
(3) Every regulation made under this section shall be laid before each House of the Oireachtas as soon as may be after it is made and, if a resolution annulling the regulation is passed by either such House within the next twenty-one days on which that House has sat after the regulation is laid before it, the regulation shall be annulled accordingly but without prejudice to the validity of anything previously done thereunder. |