Court Funds (Amendment) Rules (Northern Ireland) 1999

Statutory Rules of Northern Ireland

1999 No. 262

JUDICATURE, NORTHERN IRELAND

Court Funds (Amendment) Rules (Northern Ireland) 1999

Made

26th May 1999

To be laid before Parliament

Coming into operation

1st July 1999

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 the concurrence of the Treasury, hereby makes the following Rules:—

Citation and commencement

1.  These Rules may be cited as the Court Funds (Amendment) Rules (Northern Ireland) 1999 and shall come into operation on 1st July 1999.

Prescribed rates of interest

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

(a) in paragraph (2) for the words “4.5% per annum” substitute the words “3.25% per annum.”;

(b) in paragraph (3) for the words “6% per annum” substitute the words “4.25% per annum.”.

Irvine of Lairg, C.

Dated 26th May 1999

We concur

Jim Dowd

Jane Kennedy

Two of the Lord’s Commissioners of Her Majesty’s Treasury

Dated 8th June 1999.

Explanatory Note

(This note is not part of the Rules.)

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

(a) on money placed to the deposit account from 4.5% per annum to 3.25% per annum;

(b) on money placed to the short-term investment account from 6% per annum to 4.25% per annum.

(1)

1978 c. 23

(2)

S.R. 1979 No. 105 as amended by S.R. 1997 No. 166, S.R. 1997 No. 295 and S.R. 1997 No. 497