HC Deb 19 July 1962 vol 663 c84W
56. Mr. Woof

asked the Attorney-General why moneys paid into court as a result of judgment of the court do not bear interest from the date of payment in.

The Attorney-General

I assume that the hon. Member has in mind money paid into the High Court in satisfaction of a judgment. It is incumbent on the judgment creditor to obtain an order that the money shall be either invested or placed on deposit. In the great majority of cases an order for investment is made, with the result that the money begins to earn interest at once, and, if the creditor's solicitor has acted with reasonable expedition, no substantial benefit would accrue from a provision that the money should earn interest from the date of payment in. My noble Friend the Lord Chancellor is considering the possibility of amending the rules with a view to reducing the period which elapses before interest is earned in those exceptional oases where an order is made that the money should be placed on deposit.