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United Kingdom Statutory Instruments |
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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Acquisition of Land (Rate of Interest after Entry) Regulations 1987 No. 405 URL: http://www.bailii.org/uk/legis/num_reg/1987/uksi_1987405_en.html |
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Statutory Instruments
ACQUISITION OF LAND
COMPENSATION
Made
3rd March 1987
Laid before Parliament
13th March 1987
Coming into force
3rd April 1987
The Treasury, in exercise of the powers conferred upon them by section 32(1) of the Land Compensation Act 1961(1), and of all other powers enabling them in that behalf, hereby make the following Regulations:
1. These Regulations may be cited as the Acquisition of Land (Rate of Interest after Entry) Regulations 1987, and shall come into force on 3rd April 1987.
2. The rate of interest on any compensation in respect of the compulsory acquisition of an interest in any land on which entry has been made before the payment of the compensation shall be 11¼ per cent. per annum.
3. The Acquisition of Land (Rate of Interest after Entry) (No. 2) Regulations 1985(2) are hereby revoked.
Tim Sainsbury
Peter Lloyd
Two of the Lords Commissioners of Her Majesty's Treasury
3rd March 1987
(This note is not part of the Regulations)
These Regulations decrease from 12¼ per cent. to 11¼ per cent. per annum, in respect of any period after the coming into force of these Regulations, the rate of interest payable where entry is made, before payment of compensation, on land in England and Wales which is being purchased compulsorily, and revoke the Acquisition of Land (Rate of Interest after Entry) (No. 2) Regulations 1985.
S.I. 1985/1131.
