(This note is not part of the Regulations)
These Regulations amend the Acquisition of Land (Rate of Interest after Entry) (Scotland) Regulations 1995 (“the 1995 Regulations”). In respect of land in Scotland which has been compulsorily acquired, the 1995 Regulations set the rate of interest payable on compensation in circumstances where entry is made on land before the compensation has been paid.
Regulation 2 amends the 1995 Regulations to provide that the minimum rate of interest payable is 0 per cent per annum.
An impact assessment has not been prepared for this instrument because no impact on the private or voluntary sector is foreseen.