National Treasury Management Agency

STATUTORY INSTRUMENTS

S.I. No. 583 of 2004

SAVINGS CERTIFICATES (SIXTEENTH ISSUE) (AMENDMENT) RULES, 2004

S.I. No. 583 of 2004

Savings Certificates (Sixteenth Issue) (Amendment) Rules, 2004

The National Treasury Management Agency, in exercise of the powers conferred upon it by the National Treasury Management Agency Act, 1990 (No. 18 of 1990) 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 Rules:

1.         In these Rules, “the Savings Certificates (Sixteenth Issue) Rules” means the Savings Certificates (Sixteenth Issue) Rules, 1999 ( S.I. No. 451 of 1999 ).

2.         The Savings Certificates (Sixteenth Issue) Rules are hereby amended--

(a)        in paragraph (1) of Rule 3, by the substitution of “€50” for “£50”;

(b)        in Rule 8--

(i)     in paragraph (1) by the substitution of “€80,000” for “£60,000”; and

(ii)    in paragraph (2), by the substitution of “€160,000” for “£120,000”;

(c)        in paragraph (3) of Rule 10, by the substitution of “€100” for “£100”; and

(d)        in paragraph (2) of Rule 15, by the substitution of “€6,500” for “£5,000”.

3.         (1)        These Rules may be cited as the Savings Certificates (Sixteenth Issue) (Amendment) Rules, 2004.

(2)        The Savings Certificates (Sixteenth Issue) Rules and these Rules may be cited together as the Savings Certificates (Sixteenth Issue) Rules, 1999 and 2004.

(3)        These Rules shall be deemed to have effect from the 1st day of January, 2002.

Explanatory Note

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

The purpose of these Rules is to provide for new cash limits for investments in and repayments of Savings Certificates of the Sixteenth Issue.