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S.I. No. 321/1978 - Post Office Savings Bank (Interest on Deposits) Regulations, 1978.

S.I. No. 321 of 1978.

POST OFFICE SAVINGS BANK (INTEREST ON DEPOSITS) REGULATIONS, 1978.

I, SEOIRSE Ó COLLA, Minister for Finance, in exercise of the powers conferred on me by section 9 (1) of the Finance (No. 2) Act, 1968 (No. 37 of 1968), hereby make the following regulations:

1. These Regulations may be cited as the Post Office Savings Bank (Interest on Deposits) Regulations, 1978.

2. These Regulations shall come into operation on the 1st day of December, 1978.

3. The rate of interest on a deposit within the meaning of section 14 (1) of the Finance Act, 1948 (No. 12 of 1948), is hereby prescribed as seven and one half per cent. per annum.

4. The Post Office Savings Bank (Interest on Deposits) Regulations, 1977 ( S.I. No. 350 of 1977 ), are hereby revoked.

GIVEN under my Official Seal, this 24th day of November, 1978.

SEOIRSE Ó COLLA,

Minister for Finance.

EXPLANATORY NOTE.

These regulations prescribe as seven and one half per cent. per annum the rate of interest payable on deposits in the Post Office Savings Bank as from 1 December, 1978.