18
TUESDAY, MAY 26, 1992
INTEREST ON TAX RESERVE CERTIFICATES
* * * * * *
25 CONTAINS A LEGAL HAS AUTHORISED A
THE GOVERNMENT GAZETTE PUBLISHED ON MAY NOTICE TO THE EFFECT THAT THE FINANCIAL SECRETARY DECREASE IN THE RATE OF INTEREST PAYABLE ON TAX RESERVE CERTIFICATES.
WILL BE 3.6%
AS FROM MAY 27, THE NEW ANNUAL RATE OF INTEREST (TAX FREE) AS AGAINST THE CURRENT RATE OF 4.56% (TAX FREE).
INTEREST ON TAX RESERVE CERTIFICATES IS CALCULATED STEPS AND THE NEW RATE WILL BE $0.3 PER MONTH PER $100.
BEFORE IN
INTEREST WILL BE CREDITED AS
RESPECT MONTHS BETWEEN PURCHASE AND SURRENDER IN PAYMENT OF TAX.
ARE
IN
MONTHLY
OF COMPLETE
ΤΟ USED
PAY
INTEREST IS ONLY CREDITED WHEN CERTIFICATES TAX AND NO INTEREST IS DUE WHERE THE PRINCIPAL VALUE OF A CERTIFICATE IS REPAID BY A CHEQUE.
THE NEW RATE WILL APPLY TO ALL CERTIFICATES ISSUED ON OR
AFTER
MAY 27.
CERTIFICATES WHICH WERE ISSUED BEFORE MAY CONTINUE TO EARN INTEREST AS FOLLOWS:
27 THIS YEAR WILL
7.32%
6.84%
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 ANNUM FOR CERTIFICATES ISSUED ON OR AFTER MARCH 7, 1990 AND BEFORE APRIL 4, 1990;
8.04%
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER APRIL 4, 1990 AND BEFORE AUGUST 15, 1990;
7.56%
7.08%
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;
6.60%
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER JANUARY 30, 1991 AND BEFORE MAY 29, 1991;
7.56%
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER MAY 29, 1991 AND BEFORE JULY 3, 1991;
6.60%
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER JULY 3, 1991 AND BEFORE AUGUST 14, 1991;
6.00%
PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER AUGUST 14, 1991 AND BEFORE SEPTEMBER 18, 1991;
/5.52%