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Statutory Instrument 1989 No. 1839
The Acquisition of Land (Rate of Interest after Entry) Regulations 1989
(The document as of February, 2008)
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STATUTORY INSTRUMENTS
1989 No. 1839
ACQUISITION OF LAND
COMPENSATION
The Acquisition of Land (Rate of Interest after Entry) Regulations 1989
| Laid before Parliament | 10th October 1989 |
| Coming into force | 31st October 1989 |
The Treasury, in exercise of the powers conferred upon them by section 32(1) of the Land Compensation Act 1961[1], and of all other powers enabling them in that behalf, hereby make the following Regulations: 1. These Regulations may be cited as the Acquisition of Land (Rate of Interest after Entry) Regulations 1989, and shall come into force on the 31st October 1989. 2. The rate of interest on any compensation in respect of the compulsory acquisition of an interest in any land on which entry has been made before the payment of the compensation shall be 13 per cent per annum. 3. The Acquisition of Land (Rate of Interest after Entry) (No. 2) Regulations 1988[2] are hereby revoked.
Nigel Lawson
Stephen Dorrell
Two of the Lords Commissioners of Her Majesty's Treasury
28th September 1989
EXPLANATORY NOTE
(This note is not part of the Regulations)These Regulations increase from 116 per cent to 13 per cent per annum, in respect of any period after the coming into force of these Regulations, the rate of interest payable where entry is made, before payment of compensation, on land in England and Wales which is being purchased compulsorily, and revoke the Acquisition of Land (Rate of Interest after Entry) (No. 2) Regulations 1988.
ISBN 0 11 097839 0
Notes:[1] 1961 c. 33.
[2] S.I. 1988/2092.
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