Interest
This section has no associated Executive Note
13.—(1) Where the Scottish Ministers intend to recover grant (in whole or in part) in accordance with regulation 12(2)(b)(iii), they may also recover interest on that amount at the rate in paragraph (2).
(2) The rate is one per cent above the sterling three month London interbank offered rate on a day to day basis, from the date of demand of repayment until the date of recovery.
(3) In any proceedings for recovery under these Regulations, a certificate issued by the Forestry Commissioners or the Scottish Ministers showing the rate or rates of interest, the amount of such interest recoverable and the period for which interest is calculated shall, unless the contrary is shown, be conclusive of those matters.