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The Acquisition of Land (Rate of Interest after Entry) (Scotland) Regulations 1995
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- 1995 No. 2791 (S. 206)
- Explanatory Note
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Explanatory Note
(This note is not part of the Regulations)
These Regulations fix the rate of interest payable in respect of any period after the coming into force of these Regulations where entry is taken to land in Scotland which is being compulsorily purchased. The rate of interest is fixed at 0.5 per cent below the standard rate applying from time to time. The standard rate is the base rate quoted by the seven largest banks authorised under the Banking Act 1987 and quoting sterling base rates on whichever of the reference days most recently precedes the date when entry to the land is taken and on any subsequent reference days before compensation is paid.
These Regulations also revoke the Acquisition of Land (Rate of Interest after Entry) (Scotland) Regulation 1994.
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