S.I. No. 91/1985 - Savings Certificates (Fifth Issue Extension) Rules, 1985.

S.I. No. 91 of 1985.

SAVINGS CERTIFICATES (FIFTH ISSUE EXTENSION) RULES, 1985.

I, ALAN M. DUKES, Minister for Finance, in exercise 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 (Fifth Issue Extension) Rules, 1985.

(2) The Savings Certificates (Fifth Issue Extension) Rules, 1964 to 1982, and these Rules may be cited together as the Savings Certificates (Fifth Issue Extension) Rules, 1964 to 1985.

2. In these Rules—

"the fifth issue" means the issue of savings certificates introduced on the 5th day of May, 1952;

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

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

3. A savings certificate of the fifth issue may be held for a period not exceeding one year from the relevant date.

4. The amount repayable at any time in respect of a savings certificate of the fifth issue which is held under these Rules shall be -

( a ) in the case of a unit certificate —

	£
(i) if it is held for less than six months from the relevant date	5.91
(ii) if it is held for six months or more and less than one year from such date	6.20
(iii) if it is held for one year from such date	6.50

( 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 1st day of April, 1985.

ALAN M. DUKES,

Minister for Finance.

EXPLANATORY NOTE.

This instrument prescribes the rules governing the sixth extension of the Fifth Issue of Savings Certificates.