S.I. No. 102/1968 - Savings Certificates (Sixth Issue Extension) Rules, 1968.

S.I. No. 102 of 1968.

SAVINGS CERTIFICATES (SIXTH ISSUE EXTENSION) RULES, 1968.

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

1. (1) These Rules may be cited as the Savings Certificates (Sixth Issue Extensions) Rules, 1968.

(2) The Savings Certificates (Sixth Issue Extension) Rules, 1962 ( S.I. No. 90 of 1962 ), and these Rules may be cited together as the Savings Certificates (Sixth Issue Extension) Rules, 1962 and 1968.

2. In these Rules—

"the sixth issue" means the issue of savings certificates introduced on the 1st day of May, 1956;

"relevant date" means, in relation to a savings certificate, the twelfth anniversary of the date marked thereon as the date of issue thereof;

"unit certificate" means a savings certificate of the sixth issue the purchase price of which was one pound.

3. A savings certificate of the sixth issue may be held for a period not exceeding six years from the relevant date.

4. A saving certificate 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 relevant date,

(ii) four pence for each complete period of three months until the second anniversary of the relevant date,

(iii) five pence for each complete period of three months until the fourth anniversary of the relevant date,

(iv) six pence for each complete period of three months until the fifth anniversary of the relevant date,

(v) seven pence for each complete period of three months until the sixth anniversary of the relevant date;

( 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 which is held under these Rules.

GIVEN under my Official Seal, this 2nd day of May, 1968.

CHARLES J. HAUGHEY,

Minister for Finance.

EXPLANATORY NOTE.

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