S.I. No. 70/1985 - Savings Certificates (Seventh Issue Extension) Rules, 1985.

1. (1) These Rules may be cited as the Savings Certificates (Seventh Issue Extension) Rules, 1985.

(2) The Savings Certificates (Seventh Issue Extension) Rules, 1974 to 1982, and these Rules may be cited together as the Savings Certificates (Seventh Issue Extension) Rules, 1974 to 1985.

2. In these Rules—

"the seventh issue" means the issue of savings certificates introduced on 14th day of March, 1966;

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

"unit certificate" means a savings certificate of the seventh issue the purchase price of which was one pound.

3. A savings certificate of the seventh issue may be held for a period not exceeding one year from the relevant date.

4. The amount repayable at any time in respect of a savings certificate of the seventh 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

3.85

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

4.04

(iii) if it is held for one year from such date

4.23

( 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 13th day of March, 1985

ALAN M. DUKES,

Minister for Finance

EXPLANATORY NOTE.

This instrument prescribes the rules governing the fourth extension of the Seventh Issue of Savings Certificates.

S.I. No. 70 of 1985.

SAVINGS CERTIFICATES (SEVENTH ISSUE EXTENSION) RULES, 1985.

I, ALAN M. DUKES, 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