Interest provision change for monthly income accounts imposes deferred payment and excludes bonus for new accounts from the operative date. Amendment adds a new clause to rule 8(1) specifying the annual interest applicable to deposits made on or after the operative date, and inserts provisos in rule 9(1) that defer payment by the paying post office until five years from account opening and exclude any bonus for accounts opened on or after the operative date.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Interest provision change for monthly income accounts imposes deferred payment and excludes bonus for new accounts from the operative date.
Amendment adds a new clause to rule 8(1) specifying the annual interest applicable to deposits made on or after the operative date, and inserts provisos in rule 9(1) that defer payment by the paying post office until five years from account opening and exclude any bonus for accounts opened on or after the operative date.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.