S.I. No. 251/1986:

POST OFFICE SAVINGS BANK (INTEREST ON DEPOSITS) (No. 3) REGULATIONS, 1986.

POST OFFICE SAVINGS BANK (INTEREST ON DEPOSITS) (No. 3) REGULATIONS, 1986.

I, JOHN BRUTON, 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, 1986.

2. These Regulations shall come into operation on the 11th day of July, 1986.

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 6.50 per cent. per annum.

4. The Post Office Savings Bank (Interest on Deposits) (No. 2) Regulations, 1986 ( S.I. No. 203 of 1986 ), are hereby revoked.

GIVEN under my Official Seal, this 9th day of July, 1986

JOHN BRUTON,

Minister for Finance.

EXPLANATORY NOTE.

These regulations prescribe as 6.50 per cent. per annum the rate of interest payable on deposits in the Post Office Savings Bank as from 11th July, 1986.