Statutory Instrument 1993 No. 770 (S.103)

Act of Sederunt (Rules of the Court of Session Amendment) (Interest in Decrees and Extracts) 1993

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1993 No. 770 (S.103)

COURT OF SESSION, SCOTLAND

Act of Sederunt (Rules of the Court of Session Amendment) (Interest in Decrees and Extracts) 1993

The Lords of Council and Session, under and by virtue of the powers conferred on them by section 5 of the Court of Session Act 1988^[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 (Rules of the Court of Session Amendment) (Interest in 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 Rule of Court
    2.    In relation to any decree pronounced after the coming into force of this Act of Sederunt, rule 66 of the Rules of Court^[2] shall be amended so as to substitute, for the rate of interest specified in that rule, 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 rule 66 of the Rules of Court of the Court of Session by reducing the rate of interest on decrees pronounced after 1st April 1993 from fifteen per cent to eight per cent.

[1] 1988 c. 36. back

[2] S.I. 1965/321; relevant amending instruments are S.I. 1969/1819, 1974/2090, 1983/398 and 1985/1178. back