TUESDAY, NOVEMBER 5, 1991
10
CHANGE OF INTEREST RATE ON TAX RESERVE CERTIFICATES
* * * *
THE FINANCIAL SECRETARY HAS AUTHORISED A DECREASE IN OF INTEREST PAYABLE ON TAX RESERVE CERTIFICATES.
AS FROM TOMORROW (WEDNESDAY), THE NEW ANNUAL RATE
OF CURRENT RATE WILL BE 6.04% (TAX FREE) AS AGAINST THE FREE).
A LEGAL NOTICE TO THE EFFECT WAS GAZETTED
THE RATE
OF INTEREST 5.52% (TAX
YESTERDAY (MONDAY).
IN MONTHLY
INTEREST ON TAX RESERVE CERTIFICATES IS CALCULATED STEPS AND THE NEW RATE WILL BE $0.42 PER MONTH PER $100.
BEFORE IN RESPECT INTEREST WILL BE CREDITED AS MONTHS BETWEEN PURCHASE AND SURRENDER IN PAYMENT OF TAX.
OF
COMPLETE
ARE USED TO 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
TOMORROW.
AFTER
CERTIFICATES WHICH WERE ISSUED BEFORE TO EARN INTEREST AS FOLLOWS:
TOMORROW WILL
CONTINUR
8.28%
7.80%
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;
7.32%
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER JULY 12, 1989 AND BEFORE AUGUST 9, 1989;
6.84%
7.08%
8.04%
7.56%
7.08%
6.60%
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER AUGUST 9, 1989 AND BEFORE MARCH 7, 1990;
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER MARCH 7, 1990 AND BEFORE APRIL 4, 1990;
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER APRIL 4, 1990 AND BEFORE AUGUST 15, 1990;
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER AUGUST 15, 1990 AND BEFORE OCTOBER 24, 1990;
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER OCTOBER 24, 1990 AND BEFORE JANUARY 30, 1991;
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER JANUARY 30, 1991 AND BEFORE MAY 29, 1991;
/7.56%