
1 
This Order may be cited as the Road Traffic (Financial Penalty Deposit) (Interest) Order (Northern Ireland) 2012 and shall come into operation on 23rd April 2012.
2 

(1) For the purposes of Article 91D(10) of the Road Traffic Offenders (Northern Ireland) Order 1996, the rate of interest payable shall be the Bank of England base rate at the beginning of the day that the payment of the appropriate amount was made.
(2) In this Article “Bank of England base rate” means—
(a) the rate announced from time to time by the Monetary Policy Committee of the Bank of England as the official dealing rate, being the rate at which the Bank is willing to enter into transactions for providing short term liquidity in the money markets, or
(b) where an order under section 19 of the Bank of England Act 1998 is in force, any equivalent rate determined by the Treasury under that section.
Sealed with the Official Seal of the Department of Finance and Personnel on 28th February 2012
(L.S.)John McKibbin
A senior officer of the Department of Finance and Personnel
