S.I. No. 37/1987:

TRUSTEE SAVINGS BANKS (INTEREST ON DEPOSITS IN SPECIAL ACCOUNT) (No. 1) REGULATIONS, 1987.

TRUSTEE SAVINGS BANKS (INTEREST ON DEPOSITS IN SPECIAL ACCOUNT) (No. 1) REGULATIONS, 1987.

I, JOHN BRUTON, Minister for Finance, in exercise of the powers conferred on me by section 9 (2) of the Finance (No. 2) Act, 1968 (No. 37 of 1968), hereby make the following Regulations:

1. These Regulations may be cited as the Trustee Savings Banks (Interest on Deposits in Special Account) (No. 1) Regulations, 1987.

2. These Regulations shall come into operation on the 21st day of February, 1987.

3. The rate of interest on moneys paid by the trustees of every trustee savings bank into the special account referred to in section 31 (3) of the Finance Act, 1940 (No. 14 of 1940), is hereby prescribed as 9.22 per cent. per annum.

4. The Trustee Savings Banks (Interest on Deposits in Special Account) (No. 4) Regulations, 1986 ( S.I. No. 338 of 1986 ), are hereby revoked.

GIVEN under my Official Seal, this 10th day of February, 1987.

JOHN BRUTON,

Minister for Finance.

EXPLANATORY NOTE.

These regulations prescribe the rate of interest payable on moneys paid by the trustees of every trustee saving bank into the special account in the name of the Minister for Finance as 9.22 per cent. per annum as from 21st February, 1987.