S.I. No. 36/1987:

TRUSTEE SAVINGS BANKS (NO. 1) REGULATIONS, 1987.

TRUSTEE SAVINGS BANKS (NO. 1) REGULATIONS, 1987.

I, JOHN BRUTON, 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. These Regulations may be cited as the Trustee Savings Banks (No. 1) Regulations, 1987.

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

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 (No. 5) Regulations, 1986 ( S.I. No. 355 of 1986 ), be 12.97 per cent. per annum.

4. The Trustee Savings Banks (No. 5) Regulations, 1986 ( S.I. No. 355 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 increase to 12.97 per cent. per annum as from 21st February, 1987 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.