S.I. No. 85/1988 - Post Office Savings Bank (Interest on Deposits) Regulations, 1988.

S.I. No. 85 of 1988.

POST OFFICE SAVINGS BANK (INTEREST ON DEPOSITS) REGULATIONS, 1988.

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) Regulations, 1988.

2. These Regulations shall come into operation on the 21st day of April, 1988.

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 4.75 per cent. per annum.

4. The Post Office Savings Bank (Interest on Deposits) (No. 4) Regulations, 1987 ( S.I. No. 336 of 1987 ), are hereby revoked.

GIVEN under my Official Seal, this 20th day of April, 1988.

RAY MACSHARRY,

Minister for Finance.

EXPLANATORY NOTE.

These regulations prescribe as 4.75 per cent. per annum the rate of interest payable on deposits in the Post Office Savings Banks as from 21st April, 1988.