Interest and payment on account
7.—(1) Compensation shall carry interest at the rate determined for the time being under paragraph 18 of Schedule 6 to the Local Government Act (Northern Ireland) 1972 from the date specified in sub- paragraph (2) until payment.
(2) The date specified in this sub-paragraph is—
(a)in the case of compensation for loss and damage as described in paragraph 4(a), the date of depreciation ;
(b)in the case of compensation for loss and damage as described in paragraph 4(b), (c) or (d), the date on which the loss is sustained or the damage done or, where injurious affection is sustained, the date of the injurious affection;
(c)in the case of compensation for loss and damage as described in paragraph 4(e), the date on which the expenses become payable.
(3) If it appears to any person that he may become liable to pay to another compensation he may, if the other person requests him in writing to do so, make one or more payments on account of such compensation.
(4) If, after a payment has been made by any person under sub-paragraph (3)—
(a)it is agreed or determined that he is not liable to pay compensation; or
(b)by reason of any agreement or determination, any payment under that sub-paragraph is shown to be excessive,
the payment or, as the case may be, excess shall be recoverable by that person.