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72. (1) This regulation applies to CIL which is paid in money.
(2) Payment must be made to the collecting authority.
(3) Payment is deemed to have been received by the collecting authority on the day on which it receives the cleared funds.
(4) On receiving a payment the collecting authority must send an acknowledgment of receipt to the person making the payment.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
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