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The Late Payment of Commercial Debts (Interest) Act 1998 (Commencement No. 5) Order 2002

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Statutory Instruments

2002 No. 1673 (C. 47)

CONTRACTS, ENGLAND AND WALES

CONTRACTS, NORTHERN IRELAND

The Late Payment of Commercial Debts (Interest) Act 1998 (Commencement No. 5) Order 2002

Made

22nd June 2002

The Secretary of State, in exercise of the power conferred on her by section 17(2) of the Late Payment of Commercial Debts (Interest) Act 1998(1) and of all other powers enabling her in that behalf, hereby makes the following Order:—

Citation, commencement and extent

1.—(1) This Order may be cited as the Late Payment of Commercial Debts (Interest) Act 1998 (Commencement No. 5) Order 2002 and shall come into force on 7th August 2002.

(2) This Order extends to England and Wales, and Northern Ireland(2).

Contracts in relation to which the Late Payment of Commercial Debts (Interest) Act 1998 comes into force on 7th August 2002

2.  The Late Payment of Commercial Debts (Interest) Act 1998, so far as not then in force, shall come into force on 7th August 2002.

Nigel Griffiths

Parliamentary Under-Secretary of State for Small Business

Department of Trade and Industry

22nd June 2002

Explanatory Note

(This note is not part of the Order)

This Order brings into force the Late Payment of Commercial Debts (Interest) Act 1998 for all remaining commercial contracts for the supply of goods or services not already covered by the preceding four commencement orders. The previous Orders covered contracts between (respectively as suppliers and purchasers) small businesses and large businesses, small businesses and public authorities and small businesses and other small businesses. This is the fifth Commencement Order.

This Order partially implements Directive 2000/35/EC of the European Parliament and Council of 29th June 2000 on combating late payment in commercial transactions. A Transposition Note detailing the manner of implementation of this Directive is available at www.dti.gov.uk or from Investment Directorate, Small Business Service, St Mary’s House, c/o Moorfoot, Sheffield S1 4PQ. Tel: 0114-259-7847.

Note as to Earlier Commencement Orders

(This note is not part of the Order)

The Late Payment of Commercial Debts (Interest) Act 1998 has been applied to the following different types of commercial contracts for the supply of goods and services by commencement order made prior to the date of this Order.

Types of Commercial ContractDate of CommencementS.I. No
1.Contracts between small businesses (as suppliers) and UK public authorities and large businesses (both as purchasers)1st November 19981998/2479
2.Contracts between small businesses (as suppliers) and further UK public authorities (as purchasers)1st July 19991999/1816
3.Contracts between small businesses (as suppliers) and certain further UK public authorities (as purchasers)1st September 20002000/2225
4.Contracts between small businesses (as suppliers) and small businesses (as purchasers)1st November 20002000/2740
(2)

The functions of the Secretary of State under the Late Payment of Commercial Debts (Interest) Act 1998, insofar as they relate to Scotland, have been transferred to Scottish Ministers by virtue of section 53 of the Scotland Act 1998 (c. 46).

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