Statutory Rules of Northern Ireland

1997 No. 497

JUDICATURE, NORTHERN IRELAND

Court Funds (Amendment No. 3) Rules (Northern Ireland) 1997

Made

10th November 1997

To be laid before Parliment

Coming into operation

15th December 1997

The Lord Chancellor, in exercise of the powers conferred on him by section 82(1) of the Judicature (Northern Ireland) Act 1978(1) and with concurrence of the Treasury, hereby makes the following Rules:—

Citation and commencement

1.  These Rules may be cited as the Court Funds (Amendment No. 3) Rules (Northern Ireland) 1997 and shall come into operation on 15th December 1997.

Prescribed rates of interest

2.  in Rule 32A of the Court Funds Rules (Northern Ireland) 1979(2)—

(a)In paragraph (2) for the words “4% per annum” substitute the words “4.5% per annum.”;

(b)in paragraph (3) for the words “5% per annum” substitute the words “6% per annum.”.

Irvine of Lairg, C.

Dated 10th November 1997.

We concur

John McFaul

Bob Ainsworth

Two of the Lords Commissioners of Her Majesty’s Treasury

Dated 12th November 1997.

Explanatory Note

(This note is not part of the Rules.)

These Rules amend the Court Funds Rules (Northern Ireland) 1979 so as to increase the rate of interest payable—

(a)on money placed to the deposit account from 4% per annum to 4.5% per annum;

(b)on money placed to the short-term investment account from 5% per annum to 6% per annum.