SUPREME COURT RULES (AMENDMENT) (NO. 23 OF 1993) - REG 7 7. Rules 1 and 2 of Order 42A of the Principal Rules are repealed and the following rule is substituted:

Australian Capital Territory Numbered Regulations

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SUPREME COURT RULES (AMENDMENT) (NO. 23 OF 1993) - REG 7

7. Rules 1 and 2 of Order 42A of the Principal Rules are repealed and the following rule is substituted:

Rates of interest

“1. The interest rate fixed for the purpose of section 70 of the Act on a judgment debt is to be ascertained in accordance with the following table:

1.

On and before
30 April 1986—

(a) if judgment was entered before 1 October 1977—
5% a year for the whole period; or
(b) if judgment was entered on or after 1 October 1977—10% a year.

2.

1 May 1986 to
30 June 1990
(inclusive)—

15% a year.

3.

1 July 1990 to
31 December 1991
(inclusive)—

20% a year.

4.

1 January 1992 to
30 June 1993
(inclusive)—

15% a year.

5.

On and after
1 July 1993—

12% a year.”.

Substitution

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1.	On and before 30 April 1986—	(a) if judgment was entered before 1 October 1977— 5% a year for the whole period; or (b) if judgment was entered on or after 1 October 1977—10% a year.
2.	1 May 1986 to 30 June 1990 (inclusive)—	15% a year.
3.	1 July 1990 to 31 December 1991 (inclusive)—	20% a year.
4.	1 January 1992 to 30 June 1993 (inclusive)—	15% a year.
5.	On and after 1 July 1993—	12% a year.”.