S.I. No. 67/1980:

TRUSTEE SAVINGS BANKS REGULATIONS, 1980.

TRUSTEE SAVINGS BANKS REGULATIONS, 1980.

I, MICHEÁL Ó CINNÉIDE, 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, 1980.

(2) The Trustee Savings Banks Regulations, 1968 to 1979, and these Regulations may be cited together as the Trustee Savings Banks Regulations, 1968 to 1980.

2. These Regulations shall come into operation on the 21st day of March, 1980.

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, 1979 ( S.I. No. 361 of 1979 ), be 13.65 per cent.

4. The Trustee Savings Banks Regulations, 1979 ( S.I. No. 361 of 1979 ), are hereby revoked.

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

MICHEÁL O CINNÉIDE,

Minister for Finance.

EXPLANATORY NOTE

These Regulations increase to 13.65 per cent per annum as from 21st March, 1980 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.