STATUTORY INSTRUMENTS.

S.I. No. 446 of 1999.

POST OFFICE SAVINGS BANK (INTEREST ON DEPOSITS) REGULATIONS, 1999.

S.I. No. 446 of 1999.

POST OFFICE SAVINGS BANK (INTEREST ON DEPOSITS) REGULATIONS, 1999.

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:

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.