TUESDAY, MARCH,
11
INTEREST ON TAX RESERVE CERTIFICATES
* * * * *
....
(MARCH 5)
LEGAL CONTAINS A HAS AUTHORISED AN
THE GAZETTE PUBLISHED ON MONDAY NOTICE TO THE EFFECT THAT THE FINANCIAL SECRETARY INCREASE IN THE RATE OF INTEREST PAYABLE ON TAX RESERVE CERTIFICATES.
OF INTEREST OF 6.84
AS FROM TOMORROW (WEDNESDAY), THE NEW ANNUAL RATE WILL BE 7.08 PER CENT (TAX FREE) AS AGAINST THE CURRENT RATE PER CENT (TAX FREE).
IN MONTHLY INTEREST ON TAX RESERVE CERTIFICATES IS CALCULATED
MONTH PER $100. INTEREST STEPS AND THE NEW RATE WILL BE $0.59 PER
IN RESPECT OF COMPLETE MONTHS WILL BE CREDITED AS BEFORK
BETWEEN PURCHASE AND SURRENDER IN PAYMENT OF TAX.
PAY TAX INTEREST IS ONLY CREDIT WHEN CERTIFICATES ARE USED TO
CERTIFICATE IS AND NO INTEREST IS DUE WHERE THE PRINCIPAL VALUE OF A REPAID BY A CHEQUE.
THE NEW RATE WILL APPLY TO ALL CERTIFICATES ISSUED ON OR MARCH 7, 1990.
CERTIFICATES WHICH
AFTER
BEFORE
MARCH 7. 1990 WILL
WERE ISSUED
CONTINUE TO EARN INTEREST AS FOLLOWS
-
3.36 PER CENT
4.32 PER CENT
4.80 PER CENT
5.28 PER CENT
5.76 PER CENT
6.36 PER CENT
6.84 PER CENT
7.32 PER CENT
7.80 PER Cent
PER ANNUM FOR CERTIFICATES ISSUED ON OR APRIL 13, 1988 AND BEFORE MAY 11, 1988;
PER ANNUM FOR CERTIFICATES ISSUED ON MAY 11, 1988 AND BEFORE JUNE 16, 1988;
AFTER
OR
AFTER
OR
AFTER
PER ANNUM FOR CERTIFICATES ISSUED ON JUNE 16, 1988 AND BEFORE JUNE 29, 1988;
OR
AFTER
PER ANNUM FOR CERTIFICATES ISSUED ON JUNE 29, 1988 AND BEFORE JULY 27, 1988;
+
OR
AFTER
PER ANNUM FOR CERTIFICATES ISSUED ON JULY 27, 1988 AND BEFORE AUGUST 17, 1988;
OR AFTER PER ANNUM FOR CERTIFICATES ISSUED ON AUGUST 17, 1988 AND BEFORE DECEMBER 7 1988;
OR AFTER PER ANNUM FOR CERTIFICATES ISSUED ON DECEMBER 7, 1988 AND BEFORE FEBRUARY 15, 1989;
OR AFTER PER ANNUM FOR CERTIFICATES ISSUED ON FEBRUARY 15, 1989 AND BEFORE MARCH 8, 1989;
OR
AFTER
PER ANNUM FOR CERTIFICATES ISSUED ON MARCH 8, 1989 AND BEFORE MARCH 22, 1989;
/8.28 PER CENT