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The Late Payment of Commercial Debts (Rate of Interest) (No. 2) Order 1998

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This Statutory Instrument has been made in consequence of a defect in S.I. 1998/2480 and is being issued free of charge to all known recipients of that Statutory Instrument.

Statutory Instruments

1998 No. 2765

CONTRACTS

The Late Payment of Commercial Debts (Rate of Interest) (No. 2) Order 1998

Made

12th November 1998

Laid before Parliament

12th November 1998

Coming into force

13th November 1998

The Secretary of State, having considered the extent to which it may be desirable to set the rate of statutory interest so as to protect suppliers whose financial position makes them particularly vulnerable if their qualifying debts are paid late and deter generally the late payment of qualifying debts, with the consent of the Treasury, in exercise of the power conferred on him by section 6 of the Late Payment of Commercial Debts (Interest) Act 1998(1), and of all other powers enabling him in that behalf, hereby makes the following Order:–

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