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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) (No. 3) Regulations 1987 No. 1841 URL: http://www.bailii.org/uk/legis/num_reg/1987/uksi_19871841_en_1.html |
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Statutory Instruments
ACQUISITION OF LAND
COMPENSATION
Made
21st October 1987
Laid before Parliament
26th October 1987
Coming into force
16th November 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) (No. 3) Regulations 1987, and shall come into force on 16th November 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 11 per cent. per annum.
3. The Acquisition of Land (Rate of Interest after Entry) (No. 2) Regulations 1987(2) are hereby revoked.
Peter Lloyd
Mark Lennox-Boyd
Two of the Lords Commissioners of Her Majesty's Treasury
21st October 1987
(This note is not part of the Regulations)
These Regulations increase from 10 per cent. to 11 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 1987.
S.I. 1987/889.
