S.I. No. 828/2007 - Post office Savings Bank (Interest on Deposits) Regulations 2007
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POST OFFICE SAVINGS BANK (INTEREST ON DEPOSITS) REGULATIONS 2007 |
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Notice of the making of this Statutory Instrument was published in |
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�Iris Oifigi�il� of 1st January, 2008. |
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The National Treasury Management Agency, in exercise of its powers under 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 Regulations: |
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1. These Regulations may be cited as the Post Office Savings Bank (Interest on Deposits) Regulations 2007. |
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2. These Regulations shall be deemed to have come into operation on the 1st day of August 2007. |
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3. The rate of interest on a deposit within the meaning of section 14(1) of the Finance Act 1948 is hereby prescribed as 1.0 per cent per annum. |
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4. The Post Office Savings Bank (Interest on Deposits) Regulations 2004 ( S.I. No. 584 of 2004 ) are hereby revoked. |
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GIVEN under the Seal of the National Treasury Management Agency, |
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16 October 2007 |
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MICHAEL J. SOMERS, |
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Chief Executive. |
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EXPLANATORY NOTE |
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(This note is not part of the Instrument and does not purport to be a legal interpretation.) |
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The purpose of these Regulations is to prescribe a new rate of interest for deposits in the Post Office Savings Bank. |
