I
15
TUESDAY, JULY 26, 1988
INTEREST ON TAX RESERVE CERTIFICATES
* *
YESTERDAY
FINANCIAL PAYABLE
THE GOVERNMENT GAZETTE PUBLISHED
(MONDAY) JULY 25 CONTAINS A LEGAL NOTICE TO THE EFFECT
THE THAT SECRETARY HAS AUTHORISED AN INCREASE IN THE RATE OF INTEREST ON TAX RESERVE CERTIFICATES.
AS FROM TOMORROW (WEDNESDAY), THE NEW ANNUAL RATE OF WILL BE 5.76 PER CENT (TAX FREE) AS AGAINST THE CURRENT RATE PER CENT (TAX FREE).
INTEREST
OF 5.28
INTEREST ON TAX RESERVE CERTIFICATES IS CALCULATED IN MONTHLY
MONTH PER STEPS AND THE NEW RATE WILL BE $0.48 PER
$100. INTEREST
IN WILL BE CREDITED AS BEFORE
RESPECT OF COMPLETE MONTHS BETWEEN PURCHASE AND SURRENDER IN PAYMENT OF TAX.
ARE INTEREST IS ONLY CREDITED WHEN CERTIFICATES TAX AND NO INTEREST IS DUE WHERE THE PRINCIPAL VALUE OF A IS REPAID BY A CHEQUE.
USED TO
CERTIFICATE
PAY
THE NEW RATE WILL APPLY TO ALL CERTIFICATES ISSUED ON OR JULY 27, 1988.
AFTER
CERTIFICATES WHICH
WERE ISSUED
BEFORE JULY
27.
1988 WILL
3.36%
FOR
CONTINUE TO EARN INTEREST AS FOLLOWS-
PER ANNUM
ON ISSUED APRIL 9, 1987 AND BEFORE JUNE 4, 1987;
CERTIFICATES
OR
AFTER
3.84%
PER ANNUM FOR CERTIFICATES ISSUED ON JUNE 4, 1987 AND BEFORE JUNE 24, 1987;
OR
AFTER
4.32%
PER ANNUM FOR CERTIFICATES ISSUED ON JUNE 24, 1987 AND BEFORE OCTOBER 14, 1987;
OR
AFTER
5.28%
ANNUM FOR PER
ON ISSUED OCTOBER 14, 1987 AND BEFORE OCTOBER 28,
CERTIFICATES
OR
AFTER
1987;
4.32%
3.24%
ANNUM
FOR
3.00%
2.04%
PER ANNUM FOR CERTIFICATES ISSUED OCTOBER 28, 1987 AND BEFORE OCTOBER 30,
PER
CERTIFICATES ISSUED OCTOBER 30, 1987 AND BEFORE DECEMBER 2,
PER ANNUM FOR CERTIFICATES ISSUED DECEMBER 2, 1987 AND BEFORE DECEMBER 9,
PER ANNUM FOR CERTIFICATES ISSUED DECEMBER 9 1987 AND BEFORE FEBRUARY 20,
ON OR 1987;
AFTER
ON
OR
AFTER
1987;
ON
OR
AFTER
1987;
ON OR 1988;
AFTER
/2.76%