Court Funds (Amendment) Rules (Northern Ireland) 2004

Statutory Rules of Northern Ireland

2004 No. 326

JUDICATURE, NORTHERN IRELAND

Court Funds (Amendment) Rules (Northern Ireland) 2004

Made

8th July 2004

To be laid before Parliament

Coming into operation

31st August 2004

The Lord Chancellor, in exercise of the powers conferred on him by section 82(1) of the Judicature (Northern Ireland) Act 1978(1) and with the concurrence of the Treasury, hereby makes the following Rules:

Citation and commencement

1.  These Rules may be cited as the Court Funds (Amendment) Rules (Northern Ireland) 2004 and shall come into operation on 31st August 2004.

Prescribed rates of interest

2.  In Rule 32A of the Court Funds Rules (Northern Ireland) 1979(2) –

(a) in paragraph (2) for the words “3.25% per annum” substitute the words “3% per annum”;

(b) in paragraph (3) for the words “4.25% per annum” substitute the words “4% per annum”.

Falconer of Thoroton, C.

Dated 8th July 2004

We concur

John Heppell

Joan Ryan

Two of the Lords Commissioners of Her Majesty’s Treasury

Dated 4th August 2004

Explanatory Note

(This note is not part of the Rules.)

These Rules amend the Court Funds Rules (Northern Ireland) 1979 so as to reduce the rate of interest payable –

(a) on money placed to the deposit account from 3.25% per annum to 3% per annum;

(b) on money placed to the short-term investment account from 4.25% per annum to 4% per annum.

(1)

1978 c. 23

(2)

S.R. 1979 No. 105 as amended by S.R. 1997 No. 166, S.R. 1997 No. 295, S.R. 1997 No. 497 and S.R. 1999 No. 262