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1.—(1) These Regulations may be cited as the Late Payment of Commercial Debts Regulations 2002 and shall come into force on 7th August 2002.
(2) These Regulations extend to England and Wales and Northern Ireland(1).
The functions of the Secretary of State under the Late Payment of Commercial Debts (Interest) Act 1998, insofar as they relate to Scotland, have been transferred to Scottish Ministers by virtue of section 53 of the Scotland Act 1998 (c. 46).
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