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TUESDAY, AUGUST 14, 1990
INTEREST ON TAX RESERVE CERTIFICATES
THE THE GAZETTE PUBLISHED YESTERDAY (MONDAY) A LEGAL NOTICE TO EFFECT THAT THE FINANCIAL SECRETARY HAS AUTHORISED A DECREASE IN INTEREST RATE PAYABLE ON TAX RESERVE CERTIFICATES.
OF 8.04
THE AS FROM TOMORROW (AUGUST 15),
NEW ANNUAL INTEREST RATE WILL BE 7.56 PER CENT (TAX FREE) AS AGAINST THE CURRENT RATE PER CENT (TAX FREE).
INTEREST ON TAX RESERVE CERTIFICATES IS CALCULATED IN MONTHLY STEPS AND THE NEW RATE WILL BE $0.63 PER MONTH PER $100.
BEFORE IN
INTEREST WILL BE CREDITED AS
RESPECT MONTHS BETWEEN PURCHASE AND SURRENDER IN PAYMENT OF TAX.
OF COMPLETE
ARE USED ΤΟ PAY CERTIFICATE
INTEREST IS ONLY CREDITED WHEN CERTIFICATES TAX AND NO INTEREST IS DUE WHERE THE PRINCIPAL VALUE OF A IS REPAID BY A CHEQUE.
THE NEW RATE WILL APPLY TO ALL CERTIFICATES ISSUED ON OR AUGUST 15, 1990.
AFTER
CERTIFICATES WHICH WERE ISSUED CONTINUE TO EARN INTEREST AS FOLLOWS:
BEFORE AUGUST
15,
1990
WILL
4.80 PER CENT
PER ANNUM FOR CERTIFICATES ISSUED JUNE 16, 1988 AND BEFORE JUNE 29,
ON
OR
AFTER
1988;
5.28 PER CENT
PER ANNUM FOR CERTIFICATES ISSUED ON JUNE 29, 1988 AND BEFORE JULY 27, 1988;
OR
AFTER
5.76 PER CENT
6.36 PER CENT
6.84 PER CENT
PER ANNUM FOR CERTIFICATES ISSUED ON JULY 27, 1988 AND BEFORE AUGUST 17, 1988;
PER ANNUM FOR CERTIFICATES ISSUED ON AUGUST 17, 1988 AND BEFORE DECEMBER 7, 1988;
OR PER ANNUM FOR CERTIFICATES ISSUED ON DECEMBER 7, 1988 AND BEFORE FEBRUARY 15, 1989;
OR
AFTER
OR
AFTER
AFTER
7.32 PER CENT
7.80 PER CENT
8.28 PER CENT
7.80 PER CENT
PER ANNUM FOR CERTIFICATES ISSUED ON FEBRUARY 15, 1989 AND BEFORE MARCH 8, 1989;
PER ANNUM FOR CERTIFICATES ISSUED ON MARCH 8, 1989 AND BEFORE MARCH 22, 1989;
PER ANNUM FOR CERTIFICATES ISSUED ON OR MARCH 22, 1989 AND BEFORE JUNE 22, 1989;
PER ANNUM FOR CERTIFICATES ISSUED ON JUNE 22, 1989 AND BEFORE JULY 12, 1989;
OR
AFTER
OR
AFTER
AFTER
OR
AFTER
/7.32 PER CENT