S.I. No. 335/1987 - Trustee Savings Banks (Interest on Deposits in Special Account) (No. 5) Regulations, 1987.

1. These Regulations may be cited as the Trustee Savings Banks (Interest on Deposits in Special Account) (No. 5) Regulations, 1987.

2. These Regulations shall come into operation on the 1st day of January, 1988.

3. The rate of interest on moneys paid by the trustees of every trustee savings bank into the special account referred to in

section 31

(3) of the

Finance Act, 1940

(No. 14 of 1940), is hereby prescribed as 5.72 per cent per annum.

4. The Trustee Savings Banks (Interest on Deposits in Special Account) (No. 4) Regulations, 1987 (

S.I. No. 258 of 1987

), are hereby revoked.

GIVEN under my Official Seal, this 18th day of December, 1987.

RAY MACSHARRY,

Minister for Finance.

EXPLANATORY NOTE.

These regulations prescribe the rate of interest payable on moneys paid by the trustee savings bank into the special account in the name of the Minister for Finance as 5.72 per cent per annum as from 1st January, 1988.Notice of the making of this Statutory Instrument was published in "Iris Oifigiúil" of 25th December, 1987.

S.I. No. 335 of 1987.

TRUSTEE SAVINGS BANKS (INTEREST ON DEPOSITS IN SPECIAL ACCOUNT) (No. 5) REGULATIONS, 1987.

I, RAY MACSHARRY, Minister for Finance, in exercise of the powers conferred on me by

Section 9

(2) of the

Finance (No. 2) Act, 1968

(No. 37 of 1968), hereby make the following Regulations