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Irish Statutory Instruments
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URL: http://www.bailii.org/ie/legis/num_reg/1989/0038.html

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S.I. No. 38/1989 -- Savings Certificates (Tenth Issue Extension) Rules, 1989.

S.I. No. 38/1989 -- Savings Certificates (Tenth Issue Extension) Rules, 1989. 1989 38

S.I. No. 38/1989:

SAVINGS CERTIFICATES (TENTH ISSUE EXTENSION) RULES, 1989.

SAVINGS CERTIFICATES (TENTH ISSUE EXTENSION) RULES, 1989.

I, ALBERT REYNOLDS, 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 (Tenth Issue Extension) Rules, 1989.

2. In these Rules--

"the tenth issue" means the issue of savings certificates introduced on the 6th day of March, 1981;

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

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

3. A savings certificate of the tenth 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 tenth 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

 19.72

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

20.28

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

20.90

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

21.63

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

22.36

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

23.22

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

 24.15

( b ) in any 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 7th day of March, 1989.

ALBERT REYNOLDS,

Minister for Finance.

EXPLANATORY NOTE.

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

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URL: http://www.bailii.org/ie/legis/num_reg/1989/0038.html