S.I. No. 171/1961:

POST OFFICE SAVINGS BANK (LIMIT OF DEPOSITS) ORDER, 1961.

POST OFFICE SAVINGS BANK (LIMIT OF DEPOSITS) ORDER, 1961.

I, SÉAMAS Ó RIAIN, Minister for Finance, in exercise of the powers conferred on me by section 1 of the Savings Banks Act, 1920, hereby make the following Order with respect to which a draft has been laid before each House of the Oireachtas and no action against the draft or any part thereof has been taken by either such House:

1. (1) This Order may be cited as the Post Office Savings Bank (Limit of Deposits) Order, 1961.

(2) This Order shall come into operation on the 21st day of August, 1961.

2. It shall not be lawful for the Minister for Posts and Telegraphs to receive a deposit from or credit the account of any person if the amount of the credit of that person in the Post Office Savings Bank, whether solely, or jointly with any other person, would then exceed £5,000, and this limit shall have effect in lieu of the limit specified in the Post Office Savings Bank (Limit of Deposits) Order, 1958 ( S.I. No. 90 of 1958 ).

3. Nothing in this Order applies in relation to the deposits referred to in Regulations 10, 11, 12 and 13 of the Post Office Savings Bank Regulations, 1921 (S.R. & O., No. 1532 of 1921), or the accounts in respect of those deposits.

GIVEN under my Official Seal, this 14th day of August, 1961.

SÉAMAS Ó RIAIN,

Minister for Finance.

EXPLANATORY NOTE.

This Order raises the deposit limit in the Post Office Savings Bank from £3,000 to £5,000.

This Order does not apply to deposits made by friendly societies, charitable societies, building societies, industrial and provident societies, corporations, Government Departments or registrars of Circuit Courts.