21
MONDAY, JANUARY 28, 1991
INTEREST ON TAX RESERVE CERTIFICATES
THE FINANCIAL SECRETARY HAS AUTHORISED A DECREASE IN THE RATE OF INTEREST PAYABLE ON TAX RESERVE CERTIFICATES.
THE GOVERNMENT GAZETTE PUBLISHED TODAY (MONDAY) CONTAINED A LEGAL NOTICE TO THE EFFECT THAT AS FROM JANUARY 30, 1991, THE NEW ANNUAL RATE OF INTEREST WILL BE 6.60 PER CENT (TAX FREE) AS AGAINST THE CURRENT RATE OF 7.08 PER CENT (TAX FREE).
INTEREST ON TAX RESERVE CERTIFICATES 19 CALCULATED
IN MONTHLY STEPS AND THE NEW RATE WILL BE $0.55 PER MONTH PER $100. INTEREST WILL BE CREDITED AS BEFORE IN RESPECT OF COMPLETE MONTHS PURCHASE AND SURRENDER IN PAYMENT OF TAX.
INTEREST IS ONLY CREDITED WHEN CERTIFICATES ARE USED TAX AND NO INTEREST IS DUE WHERE THE PRINCIPAL VALUR CERTIFICATE IS REPAID BY A CHEQUE.
BETWEEN
TO PLAY OF A
THE NEW RATE WILL APPLY TO ALL CERTIFICATES ISSUED ON OR AFTER JANUARY 30, 1991.
CERTIFICATES WHICH WERE ISSUED BEFORE JANUARY 30, 1991 WILL CONTINUE TO EARN INTEREST AS FOLLOWS
5.76 PER CENT
6.36 PER CENT
-
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER JULY 27, 1988 AND BEFORE AUGUST 17, 1988;
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER AUGUST 17, 1988 AND BEFORE DECEMBER 7. 1988;
6.84 PER CENT
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER DECEMBER 7, 1988 AND BEFORE FEBRUARY 1989;
15,
7.32 PER CENT
7.80 PER CENT
8.28 PER CENT
7.80 PER CENT
7.32 PER CENT
6.84 PER CENT
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER FEBRUARY 15, 1989 AND BEFORE MARCH 8,
1989;
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER MARCH 8, 1989 AND BEFORE MARCH 22, 1989;
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER MARCH 22, 1989 AND BEFORE JUNE 22, 1989;
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;
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER AUGUST 9, 1989 AND BEFORE MARCH 7, 1990;
/7.08 PER CENT