5
TUESDAY, OCTOBER 23, 1990
INTEREST ON TAX RESERVE CERTIFICATES
THE FINANCIAL
SECRETARY
HAS AUTHORISED A DECREASE INTEREST RATE PAYABLE ON TAX RESERVE CERTIFICATES.
IN
THE
CENT
OF INTEREST WILL BE AS FROM OCTOBER 24, THE NEW ANNUAL RATE 7.08 PER CENT (TAX FREE) AS AGAINST THE CURRENT RATE OF 7.56 PER (TAX FREE).
IN A LEGAL CONTAINED THE AUTHORISATION WAS GOVERNMENT GAZETTE PUBLISHED YESTERDAY (MONDAY).
NOTICE
OF
THE
IN MONTHLY
INTEREST ON TAX RESERVE CERTIFICATES IS CALCULATED
PER MONTH PER $100. INTEREST STEPS AND THE NEW RATE WILL BE $0.59
RESPECT OF COMPLETED MONTHS BETWEEN WILL BE CREDITED AS BEFORE IN PURCHASE AND SURRENDER IN PAYMENT OF TAX.
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 OCTOBER 24, 1990.
CERTIFICATES WHICH WERE ISSUED BEFORE OCTOBER 24 WILL TO EARN INTEREST AS FOLLOWS:
AFTER
CONTINUE
5.28%
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER JUNE 29, 1988 AND BEFORE JULY 27, 1988;
5.76%
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER JULY 27, 1988 AND BEFORE AUGUST 17, 1988;
6.36%
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER AUGUST 17, 1988 AND BEFORE DECEMBER 7,
1988;
6.84%
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER DECEMBER 7, 1988 AND BEFORE FEBRUARY 15, 1989;
7.32%
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER FEBRUARY 15, 1989 AND BEFORE MARCH 8, 1989;
7.80%
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER MARCH 8, 1989 AND BEFORE MARCH 22, 1989;
8.28%
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER MARCH 22, 1989 AND BEFORE JUNE 22,
1989;
7.80%
7.32%
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER JUNE 22, 1989 AND BEFORE JULY 12, 1989;
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER JULY 12, 1989 AND BEFORE AUGUST 9, 1989;
/6.8%