# The Late Payment of Commercial Debts (Rate of Interest) Order 1998, Article 2: Interpretation


In this Order, “the official dealing rate” means the rate announced from time to time by the Monetary Policy Committee of the Bank of England (“the Bank”) and for the time being in force as the official dealing rate, being the rate at which the Bank is willing to enter into transactions for providing short term liquidity in the money markets.

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Source: https://www.legislation.gov.uk/uksi/1998/2480/article/2 (the official version)
Page: https://openlegislation.uk/late-payment-of-commercial-debts-rate-of-interest-order-1998/article-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.