S.I. No. 352/1977:

TRUSTEE SAVINGS BANKS REGULATIONS, 1977.

TRUSTEE SAVINGS BANKS REGULATIONS, 1977.

I, GEORGE COLLEY, 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. (1) These Regulations may be cited as the Trustee Savings Banks Regulations, 1977.

(2) The Trustee Savings Banks Regulations, 1968 to 1976, and these Regulations may be cited together as the Trustee Savings Banks Regulations, 1968 to 1977.

2. These Regulations shall come into operation on the 21st day of December, 1977.

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 Regulations, 1976 ( S.I. No. 269 of 1976 ), be eight and one half per cent.

4. The Trustee Savings Banks Regulations, 1976, are hereby revoked.

GIVEN under my Official Seal, this 18th day of November, 1977.

GEORGE COLLEY,

Minister for Finance.

EXPLANATORY NOTE.

These Regulations reduce to eight and one half per cent per annum as from 21st December, 1977, 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.