Statutory Instrument 1993 No. 769 (S.102)

Act of Sederunt (Interest in Sheriff Court Decrees and Extracts) 1993

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1993 No. 769 (S.102)

SHERIFF COURT, SCOTLAND

Act of Sederunt (Interest in Sheriff Court Decrees and Extracts) 1993

The Lords of Council and Session, under and by virtue of the powers conferred on them by section 4 of the Administration of Justice (Scotland) Act 1972^[1] and of all other powers enabling them in that behalf, do hereby enact and declare:

Citation and commencement
    1.—(1)  This Act of Sederunt may be cited as the Act of Sederunt (Interest in Sheriff Court Decrees and Extracts) 1993 and shall come into force on 1st April 1993.

    (2)  This Act of Sederunt shall be inserted in the Books of Sederunt.

Amendment of Sheriff Courts (Scotland) Extracts Act 1892
    2.    In relation to any decrees pronounced after the coming into force of this Act of Sederunt, section 9 of the Sheriff Courts (Scotland) Extracts Act 1892^[2] shall be amended so as to substitute, for the rate of interest specified in that section, the rate of eight per centum per annum.

J.A.D. Hope

Lord President, I.P.D.
Edinburgh,

11th March 1993

This Act of Sederunt amends section 9 of the Sheriff Courts (Scotland) Extracts Act 1892 by reducing the rate of interest in decrees pronounced after 1st April 1993 from fifteen per cent to eight per cent.

[1] 1972 c. 59. back

[2] 1892 c. 17; relevant amending instruments are S.I. 1972/2020, 1975/948, 1983/409 and 1985/1179. back