S.I. No. 58/1996 - Post Office Savings Bank (Interest on Deposits) Regulations, 1996.

1. These Regulations may be cited as the Post Office Savings Bank (Interest on Deposits) Regulations, 1996.

2. These Regulations shall come into operation on the 1st day of March, 1996.

3. Rates of interest on deposits within the meaning of

section 14

(1) of the

Finance Act, 1948

, are hereby prescribed as follows

(

a

) where any such deposit is less than £3,000, the rate of interest shall be 0.50 per cent per annum;

(

b

) where any such deposit is £3,000 or more and less than £5,000, the rate of interest shall be 0.75 per cent per annum; and

(

c

) where any such deposit is £5,000 or more, the rate of interest shall be 1.50 per cent per annum.

4. The Post Office Savings Bank (Interest on Deposits) (No. 2) Regulations, 1994 (

S.I. No. 166 of 1994

), are hereby revoked.

GIVEN under the Seal of the National Treasury Management Agency

this 28th day of February, 1996.

MICHAEL J. SOMERS,

Chief Executive.

S.I. No. 58 of 1996.

POST OFFICE SAVINGS BANK (INTEREST ON DEPOSITS) REGULATIONS, 1996.

The National Treasury Management Agency, in exercise of its powers under the

National Treasury Management Agency Act, 1990

and the

National Treasury Management Agency Act, 1990

(Delegation of and Declaration as to Functions) Order, 1990, hereby makes the following Regulations