S.I. No. 2/1971 - Savings Certificates (Conversion To New Currency) Rules, 1971.

1. These Rules may be cited as the Savings Certificates (Conversion to New Currency), Rules, 1971.

2. In these Rules—

"amount repayable" means, in relation to a unit certificate held under the Rules, the purchase price of that certificate together with all interest which has accrued due thereon ;

"the new currency" means the decimal currency provided for by the

Decimal Currency Act, 1969

(No. 23 of 1969);

"the Rules" means the Rules specified in the Schedule to these Rules.

3. As and from the 15th day of February, 1971, so much of the amount repayable at any time in respect of a unit certificate issued under any of the Rules as consists of an amount in shillings, shillings and pence or pence shall be calculated in the new currency as follows

(

a

) for any whole shilling or multiple thereof the corresponding amount in the new currency shall be taken to be five new pence or that multiple thereof;

(

b

) for any amount or remaining amount of less than one shilling shown in column (1) of the following Table the corresponding amount in the new currency shall be taken to be the amount in new pence shown opposite that amount in column (2) of that Table.

TABLE

(1)

(2)

Amount in pence

Corresponding amount in new pence

1d.

½p

2d.

1 p

3d.

1½p

4d.

2 p

5d.

2½p

6d.

2½p

7d.

3 p

8d.

3½p

9d.

4 p

10d.

4½p

11d.

5 p

SCHEDULE.

Savings Certificates Rules, 1926;

Savings Certificates (Third Issue Extension) Rules, 1945 (S.R. & O., No. 192 of 1945);

Savings Certificates (First Issue Extension) Rules, 1953 (

S.I. No. 322 of 1953

);

Savings Certificates (Second Issue Extension) Rules, 1953 (

S.I. No. 323 of 1953

);

Savings Certificates (Sixth Issue) Rules, 1956 (

S.I. No. 101 of 1956

);

Savings Certificates (Third Issue Extension) Rules, 1958 (

S.I. No. 152 of 1958

);

Savings Certificates (Fourth Issue Extension) Rules, 1962 (

S.I. No. 89 of 1962

);

Savings Certificates (Sixth Issue Extension) Rules, 1962 (

S.I. No. 90 of 1962

);

Savings Certificates (Third Issue Extension) Rules, 1964 (

S.I. No. 142 of 1964

);

Savings Certificates (Fifth Issue Extension) Rules, 1964 (

S.I. No. 143 of 1964

);

Savings Certificates (Seventh Issue) Rules, 1966 (

S.I. No. 52 of 1966

);

Savings Certificates (Third Issue Extension) Rules, 1968 (

S.I. No. 99 of 1968

);

Savings Certificates (Fourth Issue Extension) Rules, 1968 (

S.I. No. 100 of 1968

);

Savings Certificates (Fifth Issue Extension) Rules, 1968 (

S.I. No. 101 of 1968

);

Savings Certificates (Sixth Issue Extension) Rules, 1968 (

S.I. No. 102 of 1968

);

GIVEN under my Official Seal this 6th day of January, 1971.

SEOIRSE Ó COLLA,

Minister for Finance.

EXPLANATORY NOTE.

This instrument prescribes the rules governing the conversion to decimal currency of the First, Second, Third, Fourth, Fifth, Sixth and Seventh Issues of Savings Certificates.

S.I. No. 2 of 1971.

SAVINGS CERTIFICATES (CONVERSION TO NEW CURRENCY) RULES, 1971.

I, SEOIRSE Ó COLLA, Minister for Finance, in exercise of the powers conferred on me by

section 30

of the

Finance Act, 1940

(No. 14 of 1940), hereby make the following rules:—