S.I. No. 46/1991 - Savings Certificates (Eleventh Issue Extension) Rules, 1991.

S.I. No. 46 of 1991.

SAVINGS CERTIFICATES (ELEVENTH ISSUE EXTENSION) RULES, 1991.

The National Treasury Management Agency, in exercise of the powers conferred on it by Section 30 (2) of the Finance Act, 1940 (No. 14 of 1940), and the National Treasury Management Agency Act, 1990 (Delegation of and Declaration as to Functions) Order, 1990 ( S.I. No. 277 of 1990 ), hereby makes the following Rules:

1. These Rules may be cited as the Savings Certificates (Eleventh Issue Extension) Rules, 1991.

2. In these Rules—

"the eleventh issue" means the issue of savings certificates introduced on the 7th day of March 1986;

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

"unit certificate" means a savings certificate of the eleventh issue the purchase price of which was ten pounds.

3. A savings certificate of the eleventh issue as respects which the relevant date occurs while these Rules are in force may be held for a period not exceeding five years from the relevant date.

4. The amount repayable at any time in respect of a savings certificate of the eleventh 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;	14.00
(ii) if it is held for six months or more and less than one year from such date;	14.35
(iii) if it is held for one year or more and less than one and one half years from such date;	14.77
(iv) if it is held for one and one half years or more and less than two years from such date;	15.19
(v) if it is held for two years or more and less than two and one half years from such date;	15.68
(vi) if it is held for two and one half years or more and less than three years from such date;	16.17
(vii) if it held for three years or more and less than three and one half years from such date;	16.73
(viii) if it is held for three and one half years or more and less than four years from such date;	17.36
(ix) if it is held for four years or more and less than four and one half years from such date;	18.06
(x) if it is held for four and one half years or more and less than five years from such date;	18.76
(xi) if it is held for five years from such date.	19.60

( b ) in any other case, the appropriate corresponding amount.

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 the Seal of the National Treasury Management Agency,

this 6th day of March, 1991.

MICHAEL J. SOMERS,

Chief Executive.

EXPLANATORY NOTE.

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