# The Court Funds (Amendment) Rules 2025, Rule 4: Amendment to rule 13 (accrual of interest)


In rule 13—
(a) in paragraph (2)—
(i) omit “and rule 16(2)”;
(ii) omit “on a daily basis”;
(b) after paragraph (3) insert—
“(3A) The Accountant General shall credit accrued interest without deducting income tax.
(3B) Paragraphs (3C) and (4) apply to funds deposited in sterling.
(3C) Interest shall accrue on a daily basis.”;
(c) omit paragraph (5);
(d) at the end insert—
“(6) Paragraphs (7) to (10) apply to funds deposited in foreign currency.
(7) Interest shall accrue under the terms of the foreign currency account.
(8) Unless the Accountant General directs otherwise, accrued interest shall be credited:
(a) when credited under the terms of the foreign currency account;
(b) when money is reinvested; and
(c) when an account is closed.
(9) The Accountant General shall pay any charge incurred in placing foreign currency into a foreign currency account from the account in which the foreign currency is held.
(10) Unless a court, deputy or investment manager directs otherwise, the Accountant General shall convert dividend payments received in a foreign currency into sterling and invest the proceeds in accordance with this Part.”.

---
Source: https://www.legislation.gov.uk/uksi/2025/1275/rule/4 (the official version)
Page: https://openlegislation.uk/court-funds-amendment-rules-2025/rule-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.