S.I. No. 241/1973:

TRUSTEE SAVINGS BANKS (NO. 2) REGULATIONS, 1973.

TRUSTEE SAVINGS BANKS (NO. 2) REGULATIONS, 1973.

I, RICHIE RYAN, Minister for Finance, in exercise of the powers conferred on me by section 41 of the Finance Act, 1968 (No. 33 of 1968), hereby make the following regulations:

1. (1) These Regulations may be cited as the Trustee Savings Banks (No. 2) Regulations, 1973.

(2) The Trustee Savings Banks Regulations, 1968 ( S.I. No. 228 of 1968 ), and these Regulations may be cited together as the Trustee Savings Banks Regulations, 1968 and 1973.

2. These Regulations shall come into operation on the 21st day of August, 1973.

3. The rate of interest allowed on moneys standing to the credit of every separate investment account of a trustee savings bank in the name of the Minister for Finance in the Post Office Savings Bank shall, in lieu of the rate specified in the Trustee Savings Banks Regulations, 1973 ( S.I. No. 208 of 1973 ), be ten and one quarter per cent.

4. The Trustee Savings Banks Regulations, 1973, are hereby revoked.

GIVEN under my Official Seal, this 17th day of August, 1973.

RICHIE RYAN,

Minister for Finance.

EXPLANATORY NOTE.

These Regulations increase to ten and one quarter per cent per annum as from 21st August, 1973, the rate of interest payable by the Minister for Finance on moneys deposited with him by the trustee savings banks in every separate special investment account.