COURT (AWARD OF INTEREST
JUDGEMENT INTEREST) RULES,
IN exercise of the powers
conferred on the Rules of Court Committee by article 157 (2)
of the 1992 Constitution and section 80 (2) (e) of the
Courts Act, 1993 (Act 459) these Rules are made this 22nd day
of December, 2005.
Rule I-Order for payment of
1. If the court in a civil
cause or matter decides to make an order for the payment of
interest on a sum of money due to a party in the action, that
interest shall be calculated
at the bank rate prevailing
at the time the order is made, and
(b) at simple
but where an enactment,
instrument or agreement between the parties specifies a rate
of interest which is to be calculated in a particular manner
the court shall award that rate of interest calculated in that
Rule 2-Post Judgement
2. (1) Subject to subrule (2)
each judgement debt shall bear interest at the statutory
interest rate from the date of delivery of the judgement up to
the date of final payment.
(2) Where the transaction
which results in the judgement debt
contained in an instrument,
evidenced in writing, or
(c) admitted by
and the parties specify in
the instrument, writing or admission the rate of interest
which is chargeable on the debt and which is to run to the
date of final payment, then that rate of interest shall be
payable until the final payment.
Rule 3-Enforcement of
3. Interest payable under
these Rules may be levied under a writ of execution.
Rule 4-Interpretation of
4. (1) In these Rules
statutory rate of interest is the bank rate prevailing at the
time the judgement or order is made by the court.
(2) Where there is doubt as
to the prevailing bank rate, the 91 days Treasury Bill rate as
determined by the Bank of Ghana shall be the prevailing
5. The Courts (Award of
Interest) instrument, 1984 (L.L 1295) is revoked.
1. The Hon. Justice G. K
2. The Hon. J. Ayikoi Otoo
and Minister of Justice)
3. The Hon. Justice Seth
Member (Justice of the
Supreme Court, Accra)
4. The Hon. Justice S. T.
(Justice of the Court of Appeal, Accra)
5. The Hon. Justice J.
Member (Justice of the high Court, Accra)
6. Brigadier-General A.
Member (Judge Advocate-General of the Ghana
Burma Camp, Accra)
7. Mr. D. R. K Sankah,
Member (Editor, Ghana Law Reports, Council for Law
Mr. Nutifafa Kuenyehia, (Kuenyehia & Co. PO. Box
9. Mrs. Grace Osei-Hwere,
(Paintsil, Paintsil & Co., Osu-Accra)
Gazette notification: 13th January, 2006.
force 24th January 2006
PRINTER, ASSEMBLY PRESS, ACCRA. GPCIA07/350/3/2006