S.I. No. 121/1985 - Trustee Savings Banks (Interest on Deposits in Special Account) Regulations, 1985.

S.I. No. 121 of 1985.

TRUSTEE SAVINGS BANKS (INTEREST ON DEPOSITS IN SPECIAL ACCOUNT) REGULATIONS, 1985.

I, ALAN M. DUKES, Minister for Finance, in exercise of the powers conferred on me by section 9 (2) of the Finance (No. 2) Act, 1968 (No. 37 of 1968), hereby make the following Regulations:

1. These Regulations may be cited as the Trustee Savings Banks (Interest on Deposits in Special Account) Regulations, 1985.

2. These Regulations shall come into operation on the 1st day of May, 1985.

3. The rate of interest on 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 (No. 14 of 1940), is hereby prescribed as 10.40 per cent. per annum.

4. The Trustee Savings Banks (Interest on Deposits in Special Account) Regulations, 1984 ( S.I. No. 316 of 1984 ), are hereby revoked.

GIVEN under my Official Seal, this 25th day of April, 1985.

ALAN M. DUKES,

Minister for Finance.

EXPLANATORY NOTE.

These regulations prescribe the rate of interest payable on moneys paid by the trustees of every trustee savings bank into the special account in the name of the Minister for Finance as 10.40 per cent per annum as from 1 May, 1985.