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The Judgment Debts (Rate of Interest) Order 1993

S.I. 1993/564 · Made 9 March 1993 · Extends to United Kingdom

Up to date with all changes known to legislation.gov.uk, revised to 19 March 2021.

JUDGMENTS

Made 9th March 1993

Laid before Parliament 10th March 1993

Coming into force 1st April 1993

The Lord Chancellor, in exercise of the powers conferred on him by section 44 of the Administration of Justice Act 1970f1 and with the concurrence of the Treasury, hereby makes the following Order:C1

Annotations to the whole text

Modifications

C1

Order applied (19.3.2021) by The Restriction of Public Sector Exit Payments (Revocation) Regulations 2021 (S.I. 2021/197), regs. 1, 4(3)

Footnotes

f1

1970 c. 31.

Contents

  1. 1Article 1
  2. 2Article 2
  3. Signature
  4. Explanatory note

1I1

This Order may be cited as the Judgments Debts (Rate of Interest) Order 1993 and shall come into force on 1st April 1993.

2I1

In relation to any judgment entered up after the coming into force of this Order, section 17 of the Judgments Act 1838f1 shall be amended so as to substitute for the rate specified in that section, as the rate at which judgment debts shall carry interest, the rate of 8 per cent. per annum.

Signature

Mackay of Clashfern ,C.

Dated 8th March 1993

We concur,

Tim Wood

Tim Kirkhope

Two of the Lords Commissioners of Her Majesty’s Treasury.

Dated 9th March 1993

Explanatory note

(This note is not part of the Order)

This Order reduces from 15 per cent. to 8 per cent. per annum the rate of interest on judgment debts under section 17 of the Judgments Act 1838.