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The Industrial Tribunals (Northern Ireland) Order 1996

Status:

This is the original version (as it was originally made).

Interest

16.—(1) The Department may by order made with the approval of the Department of Finance and Personnel provide that sums payable in pursuance of decisions of industrial tribunals shall carry interest at such rate and between such times as may be prescribed by the order.

(2) Any interest due by virtue of such an order shall be recoverable as a sum payable in pursuance of the decision.

(3) The power conferred by paragraph (1) includes power—

(a)to specify cases or circumstances in which interest is not payable,

(b)to provide that interest is payable only on sums exceeding a specified amount or falling between specified amounts,

(c)to make provision for the manner in which and the periods by reference to which interest is to be calculated and paid,

(d)to provide that any statutory provision—

(i)does or does not apply in relation to interest payable by virtue of paragraph (1), or

(ii)applies to it with such modifications as may be specified in the order,

(e)to make provision for cases where sums are payable in pursuance of decisions or awards made on appeal from industrial tribunals.

(4) In particular, an order under paragraph (1) may provide that the rate of interest shall be the rate from time to time in force in relation to interest on amounts awarded by decree in the county court.

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