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The Acquisition of Land (Rate of Interest after Entry) Regulations 1991

S.I. 1991/2732 · Made 3 December 1991

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

ACQUISITION OF LAND

COMPENSATION

Made 3rd December 1991

Laid before Parliament 9th December 1991

Coming into force 30th December 1991

The Treasury, in exercise of the powers conferred upon them by section 32(1) of the Land Compensation Act 1961f1, and of all other powers enabling them in that behalf, hereby make the following Regulations:

Annotations to the whole text

Footnotes

f1

1961 c. 33.

Contents

  1. 1Regulation 1
  2. 2Regulation 2
  3. 3Regulation 3
  4. Signature
  5. Explanatory note

1

These Regulations may be cited as the Acquisition of Land (Rate of Interest after Entry) Regulations 1991, and shall come into force on the 30th December 1991.

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 11½ per cent. per annum.

3

The Acquisition of Land (Rate of Interest after Entry) Regulations 1989f1are hereby revoked.

Signature

Sydney Chapman

Gregory Knight

Two of the Lords Commissioners of Her Majesty’s Treasury

3rd December 1991

Explanatory note

(This note is not part of the Regulations)

These regulations decrease from 13 per cent. to 11½ 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) Regulations 1989.