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S.I. No. 256/1987 - Post Office Savings Bank (Interest on Deposits) (No. 3) Regulations, 1987.

S.I. No. 256 of 1987.

POST OFFICE SAVINGS BANK (INTEREST ON DEPOSITS) (No. 3) REGULATIONS, 1987.

I, RAY MACSHARRY, 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) (No. 3) Regulations, 1987.

2. These Regulations shall come into operation on the 7th day of October, 1987.

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 6.25 per cent. per annum.

4. The Post Office Savings Bank (Interest on Deposits) (No. 2) Regulations, 1987 ( S.I. No. 194 of 1987 ), are hereby revoked.

GIVEN under my Official Seal, this 6th day of October, 1987.

RAY MACSHARRY,

Minister for Finance.

EXPLANATORY NOTE.

These Regulations prescribe as 6.25 per cent per annum the rate of interest payable on deposits in the Post Office Savings Bank as from 7th October, 1987.