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Newfoundland Regulation 1997


NEWFOUNDLAND REGULATION 29/97

NEWFOUNDLAND REGULATION 29/97

Interest Rate on Consolidated Trust Funds Order, 1997
under the
Judicature Act

(Filed April 1, 1997)

Under the authority of subsection 71(2) of the Judicature Act I make the following Order.

Dated at St. John’s, March 31, 1997.

Chris R. Decker
Minister of Justice

ORDER

Analysis


        1.   Short title

        2.   Interest rate applicable

        3.   Repeal

        4.   Commencement


Short title

        1. This Order may be cited as the Interest Rate on Consolidated Trust Funds Order, 1997.

Interest rate applicable

        2. The interest rate payable on the consolidated trust funds kept by the Registrar of the Supreme Court under subsection 71(1) of the Judicature Act shall be at the rate of 2% below the average monthly prime lending rate of the Bank of Montreal.

Repeal

        3. The Interest Rate on Consolidated Trust Funds Order, Consolidated Newfoundland Regulation 743/96, is repealed.

Commencement

        4. This Order shall come into force on April 1, 1997.