S.I. No. 55/1985 - State Financial Transactions (Special Provisions) Act, 1984 (Section 3) (No. 2) Order, 1985.

S.I. No. 55 of 1985.

STATE FINANCIAL TRANSACTIONS (SPECIAL PROVISIONS) ACT, 1984 (SECTION 3) (NO. 2) ORDER, 1985.

I, ALAN M. DUKES, Minister for Finance, in exercise of the powers conferred on me by section 3 of the State Financial Transactions (Special Provisions) Act, 1984 (No. 23 of 1984), hereby order as follows:

1. This Order may be cited as the State Financial Transactions (Special Provisions) Act, 1984 (Section 3) (No. 2) Order, 1985.

2. The date for the payment of interest or dividends on the outstanding stock of:

( a) Variable Rate Exchequer Stock 1985,

( b) 10% Funding Stock, 1986,

( c) 16% Finance Loan, 1987, and

( d) 11½% Finance Stock, 1991-1993,

shall be the 8th day of March, 1985, and interest at the rate of 14.91 per cent. per annum shall be paid on the postponed interest or dividends on the outstanding stock aforesaid in respect of the period beginning on the 15th day of January, 1985, and ending on the 8th day of March, 1985.

3. The date for the redemption of the outstanding stock of the Variable Rate Exchequer Stock, 1985, shall be the 8th day of March, 1985, and interest at the rate of 14.91 per cent. per annum shall be paid on the outstanding stock aforesaid on respect of the period beginning on the 15th day of January, 1985, and ending on the 8th day of March, 1985.

4. The date for the payment of interest or dividends on the outstanding stock of:

(a) Finance (Variable Rate) Stock, 1986,

(b) 8½% Conversion Stock, 1986 - 1988,

(c) 9¾4% National Loan, 1984 - 1989,

(d) 9% Finance Loan, 1989,

(e) 14% Exchequer Loan, 1990 - 1992, and

(f) 14¾% Development Stock, 2002 - 2004,

shall be the 8th day of March, 1985, and interest at the rate of 14.55 per cent. per annum shall be paid on the postponed interest or dividends on the outstanding stock aforesaid in respect of the period beginning on the 1st day of February, 1985, and ending on the 8th day of March, 1985.

5. The date for the payment of interest or dividends on the outstanding stock of:

(a) 11½% Funding Stock, 1985,

(b) 15½% Funding Loan, 1986, and

(c) 11½% Exchequer Stock, 1990,

shall be the 15th day of March, 1985, and interest at the rate of 14.57 per cent. per annum shall be paid on the postponed interest or dividends on the outstanding stock aforesaid in in respect of the period beginning on the 15th day of January, 1985, and ending on the 8th day of March, 1985.

6. The date for the redemption of the outstanding stock of the 11½% Funding Stock, 1985, shall be the 15th day of March, 1985, and interest at the rate of 14.57 per cent. per annum shall be paid on the outstanding stock aforesaid in respect of the period beginning on the 15th day of February, 1985, and ending on the 15th day of March, 1985.

7. The date for the payment of interest or dividends on the outstanding stock of:

(a) 12¾% Funding Stock, 1987,

(b) 11 % Exchequer Stock, 1987, and

(c) 15% Conversion Stock, 1988,

shall be the 15th day of March, 1985, and interest at the rate of 14.57 per cent. per annum shall be paid on the postponed interest or dividends on the outstanding stock aforesaid in respect of the period beginning on the 1st day of March, 1985, and ending on the 15th day of March, 1985.

GIVEN under my Official Seal this 28th day of February, 1985.

ALAN M. DUKES,

Minister for Finance.

EXPLANATORY NOTE

This Order fixes the dates for the redemption and the payment of interest or dividends on certain securities specified in the Order, which payments were postponed by previous Orders (S.I. Nos. 6, 19 and 31 of 1985). It also fixes the rates of interest to be paid for the periods for which the redemption and payment of interest or dividends were postponed.