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Irish Statutory Instruments
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URL: http://www.bailii.org/ie/legis/num_reg/1986/0086.html

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S.I. No. 86/1986 -- Savings Certificates (Fifth Issue Extension) Rules, 1986.

S.I. No. 86/1986 -- Savings Certificates (Fifth Issue Extension) Rules, 1986. 1986 86

S.I. No. 86/1986:

SAVINGS CERTIFICATES (FIFTH ISSUE EXTENSION) RULES, 1986.

SAVINGS CERTIFICATES (FIFTH ISSUE EXTENSION) RULES, 1986.

I, JOHN BRUTON, Minister for Finance, in exercise of the powers conferred on me by section 30 (2) of the Finance Act, 1940 (No. 14 of 1940), hereby make the following Rules:

1. (1) These Rules may be cited as the Savings Certificates (Fifth Issue Extension) Rules, 1986.

(2) The Savings Certificates (Fifth Issue Extension) Rules, 1964 to 1985, and these Rules may be cited together as the Savings Certificates (Fifth Issue Extension) Rules, 1964 to 1986.

2. In these Rules--

"the fifth issue" means the issue of savings certificates introduced on the 5th day of May, 1952;

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

"unit certificate" means a savings certificate of the fifth issue the purchase price of which was one pound.

3. A savings certificate of the fifth issue may be held for a period not exceeding three years from the relevant date.

4. The amount repayable at any time in respect of a savings certificate of the fifth 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

 6.50

(ii) if it is held for six months or more and less than one year from such date

 6.69

(iii) if it is held for one year or more and less than one and one half years from such date

 6.89

(iv) if it is held for one and one half years or more and less than two years from such date

 7.12

(v) if it held for two years or more and less than two and one half years from such date

 7.37

(vi) if it is held for two and one half years or more and less than three years from such date

 7.66

(vii) if it is held for three years from such date

 7.96

(b) in any other case, in a proportionate manner.

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 my Official Seal, this 16th day of April, 1986.

JOHN BRUTON,

Minister for Finance.

EXPLANATORY NOTE.

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

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URL: http://www.bailii.org/ie/legis/num_reg/1986/0086.html