S.I. No. 446/1999 - Post Office Savings Bank (Interest on Deposits) Regulations, 1999.

1. These Regulations may be cited as the Post Office Savings Bank (Interest on Deposits) Regulations, 1999.

2. These Regulations shall be deemed to have come into operation on the 10th day of April, 1999.

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 £5,000, the rate of interest shall be 0.25 per cent per annum; and

(

b

) where any such deposit is £5,000 or more, the rate of interest shall be 0.50 per cent per annum.

4. The Post Office Savings Bank (Interest on Deposits) (No. 2) Regulations, 1996 (

S.I. No. 162 of 1996

) are hereby revoked.

GIVEN under the Seal of the National Treasury Management Agency, this 30th day of December, 1999.

MICHAEL J. SOMERS,

Chief Executive.

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

National Treasury Management Agency Act, 1990

(No. 18 of 1990) and the

National Treasury Management Agency Act, 1990

(Delegation of and Declaration as to Functions) Order, 1990 (

S.I. No. 277 of 1990

), hereby makes the following Regulations