Interest Rate (Exemption) (Amendment) Regulations, 2019

L.N. 196 of 2019

CIVIL CODE

(CAP. 16)

Interest Rate (Exemption) (Amendment) Regulations, 2019

IN EXERCISE of the powers conferred by article 1855A of the

Civil Code, the Minister for Justice, Culture and Local Government, in

conjunction with the Minister responsible for Finance, has made the

following regulations:-

The title of these regulations is the Interest Rate

(Exemption) (Amendment) Regulations, 2019, and these regulations

shall be read and construed as one with the Interest Rate (Exemption)

Regulations, hereinafter referred to as "the principal regulations".

Sub-regulation (1) of regulation 3 of the principal

regulations, shall be amended as follows

(a) in paragraph (g) thereof, the words "natural person."

shall be substituted by the words "natural person;"; and

(b) immediately after paragraph (g) thereof, there shall

be added the following new paragraph

"(h) equity release financial products as regulated by

the Equity Release Financial Products Regulations, 2019

2019. Provided that interest fallen due may bear other

interest if such interest be due for a period not less than one

(1) year.".

€0.09