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Report No. 63

Chapter 2B


2B.1. Recommendation to delete the preamble.-

We now address ourselves to the amendments required in the Act. An important question concerning the preamble lo the Act may be disposed of first. The preamble reads-

"Whereas it is expedient to extend to the territories under the Government of the East India Company, as well within the jurisdiction of Her Majesty's Court as elsewhere, the provisions of the Statute 3rd and 4th, William IV, Chapter 42, section 28, concerning the allowance of interest in certain cases."

It is obvious that the preamble is out-dated and has now become totally obsolete and irrelevant. We are of the view that it should be deleted. We recommend accordingly.

Interest Act, 1839 Back

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