Statutory Instruments
2016 No. 879
Acquisition Of Land, England And Wales
Compensation, England And Wales
The Acquisition of Land (Rate of Interest after Entry) (Amendment) Regulations 2016
Made
6th September 2016
Laid before Parliament
7th September 2016
Coming into force
30th September 2016
The Treasury, in exercise of the powers conferred by section 32(1) of the Land Compensation Act 1961( 1 ), make the following Regulations:
Citation and commencement
1. These Regulations may be cited as the Acquisition of Land (Rate of Interest after Entry) (Amendment) Regulations 2016 and come into force on 30th September 2016.
Amendment of the Acquisition of Land (Rate of Interest after Entry) Regulations 1995
2. —(1)The Acquisition of Land (Rate of Interest after Entry) Regulations 1995( 2 ) are amended as follows.
(2) In regulation 2 (rate of interest) at the end of paragraph (1) insert “, except that if the standard rate is less than 0.5 per cent. per annum, the rate of interest on the compensation shall be 0 per cent. per annum”.
Guy Opperman
Andrew Griffiths
Two of the Lords Commissioners of Her Majesty’s Treasury
6th September 2016