Can somebody help me?
What happens if a couple both jointly have the maximum invested ie €240,000 and one of them dies.
The survivor is now over the maximum per person.
See part 3 below. In your case, it seems as though nothing will happen, the survivor inherits the savings and now has 240k which will then be allowed to mature as per the terms and conditions at time of purchase. However they won't be able to purchase any more of that issue and when the time comes to reinvest, I think they will only be able to reinvest 120k of their 240k.
8. Maximum Holding
(1) No person shall at any time hold or have any interest in Savings Certifi-
cates with an aggregate purchase price of more than €120,000 (the “maximum
personal holding”).
(2) In the case of a joint holding of Savings Certificates by two or more per-
sons, such holding may include Savings Certificates of an aggregate purchase
price of not more than €120,000 multiplied by the number of persons jointly
holding the Savings Certificates, provided always that each holder shall not
thereby exceed the maximum personal holding.
(3) Inherited Savings Certificates shall not be taken into account for the pur-
poses of this Rule except where the person holding such Savings Certificates
purchases or seeks to purchase further Savings Certificates after the date of
the inheritance.
The survivor is now over the maximum per person.
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