Disputes Tribunals (Prescribed Rate Of Interest) Order 2002

  • revoked
  • Disputes Tribunals (Prescribed Rate of Interest) Order 2002: revoked, on 1 July 2008, by clause 5 of the Disputes Tribunals (Prescribed Rate of Interest) Order 2008 (SR 2008/143).

Reprint
as at 1 July 2008

Disputes Tribunals (Prescribed Rate Of Interest) Order 2002

(SR 2002/174)

  • Disputes Tribunals (Prescribed Rate of Interest) Order 2002: revoked, on 1 July 2008, by clause 5 of the Disputes Tribunals (Prescribed Rate of Interest) Order 2008 (SR 2008/143).


Note

Changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in this eprint.

A general outline of these changes is set out in the notes at the end of this eprint, together with other explanatory material about this eprint.

This order is administered in the Ministry of Justice and the Department for Courts.


Pursuant to section 20(5) of the Disputes Tribunals Act 1988, Her Excellency the Governor-General, acting on the advice and with the consent of the Executive Council, makes the following order.

1 Title
  • This order is the Disputes Tribunals (Prescribed Rate of Interest) Order 2002.

2 Commencement
  • This order comes into force on 1 August 2002.

3 Application
  • This order applies in respect of every order of the kind described in clause 4 made on or after 1 August 2002 in proceedings before a Tribunal, whether those proceedings were commenced before or after that date.

4 Rate of interest prescribed
  • (1) The maximum rate of interest that a Tribunal may, under section 20(1) of the Disputes Tribunals Act 1988, include in an order under section 19(1)(a) or section 47(3)(b) of that Act that a party to the proceedings pay money to another party to the proceedings is 7.5%.

    (2) The maximum rate of interest that a Tribunal may, under section 20(3) of the Disputes Tribunals Act 1988, include in an order under section 19(1)(a) in proceedings for the recovery of any debt upon which interest (at an undetermined rate) is payable as of right is 7.5%.

Marie Shroff,

Clerk of the Executive Council.

Explanatory note

This note is not part of the order, but is intended to indicate its general effect.

This order, which comes into force on 1 August 2002, decreases from 11% to 7.5% the maximum rate of interest that Disputes Tribunals may, under section 20(1) or (3) of the Disputes Tribunals Act 1988, include in orders that one party pay money to another in proceedings for the recovery of debts or damages.


Issued under the authority of the Acts and Regulations Publication Act 1989.

Date of notification in Gazette: 20 June 2002.


Contents

  • 1General

  • 2About this eprint

  • 3List of amendments incorporated in this eprint (most recent first)


Notes
1 General
  • This is an eprint of the Disputes Tribunals (Prescribed Rate of Interest) Order 2002. It incorporates all the amendments to the Disputes Tribunals (Prescribed Rate of Interest) Order 2002 as at 1 July 2008. The list of amendments at the end of these notes specifies all the amendments incorporated into this eprint since 3 September 2007. Relevant provisions of any amending enactments that contain transitional, savings, or application provisions are also included, after the Principal enactment, in chronological order.

2 About this eprint
  • This eprint has not been officialised. For more information about officialisation, please see Making online legislation official under Status of legislation on this site in the About section of this website.

3 List of amendments incorporated in this eprint (most recent first)
  • Disputes Tribunals (Prescribed Rate of Interest) Order 2008 (SR 2008/143): clause 5