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The Local Government (Early Termination of Employment) (Discretionary Compensation) Regulations (Northern Ireland) 2003
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- 2003 No. 61
- PART IX
- Regulation 29
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Interest on late payments
29.—(1) Where all or part of any compensation due under either of Part IV or VIII is not paid by the paying authority within the relevant period after the due date, that authority must pay interest on the unpaid amount to the person to whom it is payable.
(2) Interest under paragraph (1) must be calculated at one per cent. above base rate on a day to day basis from the due date to the date of payment, and compounded with three-monthly rests.
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