S.I. No. 150/1959 - Trustee Savings Banks Regulations, 1940 (Amendment) Regulations, 1959.

1. These Regulations may be cited as the Trustee Savings Banks Regulations, 1940 (Amendment) Regulations, 1959.

2. In respect of any period commencing on or after the 21st day of November, 1959, Regulation 7 of the Trustee Savings Banks Regulations, 1940 (

S. R. & O. No. 336 of 1940

), shall have effect as if " three per cent." were substituted for " two and seven-eighths per cent." (inserted by the Trustee Savings Banks Regulations, 1940 (Amendment) Regulations, 1948 (

S.I. No. 243 of 1948

) ).

GIVEN under my Official Seal, this 31st day of August, 1959.

SÉAMAS Ó RIAIN,

Minister for Finance.

EXPLANATORY NOTE.

These regulations increase to 3% per annum, as from 21st November, 1959, the rate of interest payable by the Minister for Finance on moneys deposited with him by the trustee savings banks.

S.I. No. 150 of 1959.

TRUSTEE SAVINGS BANKS REGULATIONS, 1940 (AMENDMENT) REGULATIONS, 1959.

I, SÉAMAS Ó RIAIN, Minister for Finance, in exercise of the powers conferred on me by

section 31

of the

Finance Act, 1940

(No. 14 of 1940), as amended by

section 78

of the

Finance Act, 1959

(No. 18 of 1959) hereby order as follows