# The Collection Fund (England) Regulations 1989, Regulation 8: Interest on amount of instalments


(1) Interest payable under regulation 7 in respect of an amount outstanding shall be calculated as the rate which is 2 per cent above the highest base rate quoted by members of the Committee of London and Scottish Bankers at any time in the period for which that interest is payable.
(2) The interest shall be paid at the same time as the amount outstanding is paid.

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Source: https://www.legislation.gov.uk/uksi/1989/2336/regulation/8 (the official version)
Page: https://openlegislation.uk/collection-fund-england-regulations-1989/regulation-8
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.