S.I. No. 65/1980:

POST OFFICE SAVINGS BANK (INTEREST ON DEPOSIT) REGULATIONS, 1980.

POST OFFICE SAVINGS BANK (INTEREST ON DEPOSIT) REGULATIONS, 1980.

I, MICHEÁL Ó CINNÉIDE, Minister for Finance, in exercise of the powers conferred on me by section 9 (1) of the Finance (No. 2) Act, 1968 (No. 37 of 1968), hereby make the following regulations:

1. These Regulations may be cited as the Post Office Savings Bank (Interest on Deposits) Regulations, 1980.

2. These Regulations shall come into operation on the 1st day of March, 1980.

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 eight and one half per cent per annum.

4. The Post Office Savings Bank (Interest on Deposits) Regulations, 1978 ( S.I. No. 321 of 1978 ), are hereby revoked.

GIVEN under my Official Seal, this 29th day of February, 1980.

MICHEÁL Ó CINNÉIDE,

Minister for Finance.

EXPLANATORY NOTE.

These regulations prescribe as eight and one half per cent. per annum the rate of interest payable on deposits in the Post Office Savings Bank as from 1 March, 1980.