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Irish Statutory Instruments
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URL: http://www.bailii.org/ie/legis/num_reg/1989/0174.html

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S.I. No. 174/1989 -- Savings Certificates (Third Issue Extension) Rules, 1989.

S.I. No. 174/1989 -- Savings Certificates (Third Issue Extension) Rules, 1989. 1989 174

S.I. No. 174/1989:

SAVINGS CERTIFICATES (THIRD ISSUE EXTENSION) RULES, 1989.

SAVINGS CERTIFICATES (THIRD ISSUE EXTENSION) RULES, 1989.

I, ALBERT REYNOLDS, Minister for Finance, in exercise of the powers conferred on me by section 30 (2) of the Finance Act, 1940 (No. 14 of 1940), hereby make the following Rules:

1. (1) These Rules may be cited as the Savings Certificates (Third Issue Extension) Rules, 1989.

(2) The Savings Certificates (Third Issue Extension) Rules, 1945 to 1986, and these Rules may be cited together as the Savings Certificates (Third Issue Extension) Rules, 1945 to 1989.

2. In these Rules--

"the third issue" means the issue of savings certificates introduced on the 8th day of July, 1933, and discontinued on the 8th day of May, 1946;

"relevant date" means, in relation to a savings certificate, the fifty-sixth anniversary of the date marked thereon as the date of issue thereof;

"unit certificate" means a savings certificate of the third issue the purchase price of which was eighty pence.

3. A savings certificate of the third issue may be held for a period not exceeding five years from the relevant date.

4. The amount repayable at any time in respect of a savings certificate of the third issue which is held under these rules shall be--

(a) in the case of a unit certificate--
£

(i) if it is held for less than six months from the relevant date

 10.37

(ii) if it is held for six months or more and less than one year from such date

10.67

(iii) if it is held for one year or more and less than one and one half years from such date

10.99

(iv) if it is held for one and one half years or more and less than two years from such date

11.37

(v) if it is held for two years or more and less than two and one half years from such date

11.74

(vi) if it is held for two and one half years or more and less than three years from such date

12.14

(vii) if it held for three years or more and less than three and one half years from such date

12.56

(viii) if it is held for three and one half years or more and less than four years from such date

13.01

(ix) if it is held for four years or more and less than four and one half years from such date

13.49

(x) if it is held for four and one half years or more and less than five years from such date

14.00

(xi) if it is held for five years from such date

 14.54

(b) in any other case, in a proportionate manner.

5. Subject to the provisions of these Rules, the Savings Certificates Rules, 1926, shall apply, with the necessary modifications, in relation to a savings certificate which is held under these Rules.

GIVEN under my Official Seal, this 7th day of July, 1989.

ALBERT REYNOLDS,

Minister for Finance.

EXPLANATORY NOTE.

This Instrument prescribes the rules governing the tenth extension of the Third Issue of Savings Certificates.

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URL: http://www.bailii.org/ie/legis/num_reg/1989/0174.html