XN000022-1988-06-28 — Page 4

TUESDAY, JUNE 28, 1988

3

INTEREST ON TAX RESERVE CERTIFICATES RAISED

THE GAZETTE PUBLISHED ON MONDAY (JUNE 27) CONTAINS A LECAL NOTICE TO THE EFFECT THAT THE FINANCIAL SECRETARY HAS AUTHORISED AN INCREASE IN THE RATE OF INTEREST PAYABLE ON TAX RESERVE CERTIFICATES. AS FROM TOMORROW (JUNE 29), THE NEW ANNUAL RATE OF INTEREST WILL BE 5.28 PER CENT (TAX FREE) AS AGAINST THE CURRENT RATE OF 1.8 PER CENT (TAX FREE),

INTEREST ON TAX RESERVE CERTIFICATES IS CALCULATED IN MONTHLY STEPS AND THE NEW RATE WILL BE $0.44 PER MONTH PER

100.

INTEREST WILL BE CREDITED AS BEFORE IN RESPECT OF COMPLETE MONTHS BETWEEN PURCHASE AND SURRENDER IN PAYMENT OF TAX.

INTEREST IS ONLY CREDITED WHEN CERTIFICATES ARE USED ΤΟ PAY 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 JUNE 29 THIS YEAR.

CERTIFICATES WHICH WERE ISSUED BEFORE JUNE 29 WILL CONTINUE TO EARN INTEREST AS FOLLOWS-

3.00 PER CENT

PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER MARCH 4, 1987 AND BEFORE APRIL 4, 1987;

T

3.36 PER CENT

PER ANNUM FOR CERTIFICATES ISSUED ON OR APRIL 9, 1987 AND BEFORE JUNE 4, 1987;

AFTER

3.84 PER CENT

PER ANNUM FOR CERTIFICATES ISSUED ON OR JUNE 1, 1987 AND BEFORE JUNE 24 1987;

AFTER

4.32 PER CENT

:

טי

5.28 PER CENT

A

*

4.32 PER CENT

3.24 PER CENT

PER ANNUM FOR CERTIFICATES ISSUED ON OR JUNE 24, 1987 AND BEFORE OCTOBER 14, 1987;

PER ANNUM FOR CERTIFICATES ISSUED ON OR OCTOBER 14, 1987 AND BEFORE OCTOBER 28,

PER ANNUM FOR CERTIFICATES ISSUED ON OR OCTOBER 28, 1987 AND BEFORE OCTOBER 30,

PER ANNUM FOR CERTIFICATES ISSUED ON OR OCTOBER 30, 1987 AND BEFORE DECEMBER 2,

AFTER

AFTER 1987;

AFTER 1987;

AFTER

1987;

A

4

/3.00 PER CENT