2. The following shall be substituted for Article 5 of the County Courts (Interest on Judgment Debts) Order 1991(1).
5.—(1) Subject to paragraph (2), where a judgment debt carries interest the rate of interest shall be the rate for the time being specified in section 17 of the Judgments Act 1838(2).
(2) Where a judgment debt carries interest and has been given for a sum expressed in a currency other than sterling, a county court may order that the rate of interest shall be such rate as the court thinks fit (instead of the rate otherwise applicable under paragraph (1)) and, where the court makes such an order, section 17 of the Judgments Act 1838 shall have effect in relation to the judgment debt as if the rate specified in the order were substituted for the rate specified in that section.”
S.I. 1991/1184.
1838 c. 110; power to alter the rate of interest specified in section 17 was conferred by section 44 of the Administration of Justice Act 1970 (c. 31); the current rate prescribed by S.I. 1993/564 is 8 per cent per annum.