S.I. No. 44/1991:

POST OFFICE SAVINGS BANK (INTEREST ON DEPOSITS) REGULATIONS, 1991.

POST OFFICE SAVINGS BANK (INTEREST ON DEPOSITS) REGULATIONS, 1991.

The National Treasury Management Agency, in exercise of the powers conferred on it by section 9 (1) of the Finance (No. 2) Act, 1968 (No. 37 of 1968), and the National Treasury Management Agency Act, 1990 (Delegation of and Declaration as to Functions) Order, 1990 ( S.I. No. 277 of 1990 ) hereby makes the following Regulations:

1. These Regulations may be cited as the Post Office Savings Bank (Interest on Deposits) Regulations, 1991.

2. These Regulations shall be deemed to have come into operation on the 28th day of January, 1991.

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 6.75 per cent. per annum.

4. The Post Office Savings Bank (Interest on Deposits) (No. 4) Regulations, 1990 ( S.I. No. 347 of 1990 ), are hereby revoked.

GIVEN under the Seal of the National Treasury Management Agency

this 6th day of March, 1991.

MICHAEL J. SOMERS,

Chief Executive.

EXPLANATORY NOTE.

These Regulations prescribe as 6.75 per cent. per annum the rate of interest payable on deposits in the Post Office Savings Bank as from 28th January, 1991.