{
  "url": "https://openlegislation.uk/alcoholic-products-repayment-interest-rate-alcohol-duty-regulations-2025/regulation-2",
  "json_url": "https://openlegislation.uk/alcoholic-products-repayment-interest-rate-alcohol-duty-regulations-2025/regulation-2.json",
  "legislation": "uksi/2025/947",
  "legislation_title": "The Alcoholic Products (Repayment Interest Rate) (Alcohol Duty) Regulations 2025",
  "legislation_url": "https://openlegislation.uk/alcoholic-products-repayment-interest-rate-alcohol-duty-regulations-2025",
  "path": "regulation/2",
  "kind": "regulation",
  "number": "2",
  "heading": "Interpretation",
  "text": "In these Regulations—\n“alcohol duty” has the meaning given in section 47 of the Finance (No. 2) Act 2023 (alcohol duty: charge);\n“Bank of England rate” means the official bank rate as announced at the relevant meeting;\n“operative date” means the 13th working day following the relevant meeting;\n“relevant meeting” means the most recent meeting of the Monetary Policy Committee of the Bank of England;\n“repayment interest rate” means the rate of interest applicable for the purposes of Parts 2 and 3 of Schedule 3 to the Finance Act 2001 (interest payable on repayments etc.) for the purposes of alcohol duty;\n“working day” means any day other than a Saturday, a Sunday, Christmas Day, Good Friday or a day that is a bank holiday under the Banking and Financial Dealings Act 1971 in any part of the United Kingdom.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "2023 c. 30."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "The Monetary Policy Committee was constituted on a statutory basis by section 13 of the Bank of England Act 1998 (c. 11)."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "Part 2 was amended by paragraph 8 of Part 2 of Schedule 13 to the Finance (No. 3) Act 2010 (c. 33). Part 3 was amended by S.I. 2009/56."
    },
    {
      "type": "footnote",
      "label": "f4",
      "text": "1971 c. 80."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2025/947/regulation/2",
    "retrieved_at": "2026-10-28T21:12:18.460174+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}