This Act may be cited as the Late Payment of Commercial Debts (Interest) Act 1998.

This Act (apart from this section) shall come into force on such day as the Secretary of State may by order appoint; and different days may be appointed for different descriptions of contract or for other different purposes.

An order under this subsection may specify a description of contract by reference to any feature of the contract (including the parties).

The Secretary of State may by regulations make such transitional, supplemental or incidental provision (including provision modifying any provision of this Act) as the Secretary of State may consider necessary or expedient in connection with the operation of this Act while it is not fully in force.

This Act does not affect contracts of any description made before this Act comes into force for contracts of that description.

This Act extends to Northern Ireland.