The Court Funds Rules 1987

Interest on money paid in satisfaction

32.—(1) Subject to paragraphs (4) and (5), interest on money remitted to the Court Funds Office under rule 31(2) shall start to accrue 21 days after the effective date of payment into the county court.

(2) Subject to paragraphs (4) and (5), interest on money remitted to the Court Funds Office under rule 31(3) shall start to accrue from the effective date of payment into the county court.

(3) Where a court determines a claim, or, as the case may be, approves a settlement on behalf of a person under a disability, any interest which has accrued on the money in court shall be dealt with as the court orders.

(4) Where money placed to a basic account under rule 31(1) is accepted within the time limited by RSC Order 22, rule 3(1), no interest shall be payable in respect of the period between lodgment or appropriation, or where there has been more than one lodgment or appropriation between the latest lodgment or appropriation, and the date of acceptance.

(5) Where money has been placed to a basic account under rule 31(4) but it appears that the plaintiff, having accepted the money within the time limited by the CCR, has become entitled to have it paid out to him, no interest shall be payable on that money in respect of the period between lodgment, or where there has been more than one lodgment, between the last lodgment and the date of acceptance.

(6) Where money appropriated under the CCR in satisfaction of a claim is accepted within the time limit, no interest shall be payable in respect of the period between appropriation, or where there has been more than one appropriation between the latest appropriation, and the date of acceptance.