Article 23 Interest for unpaid contribution amountsF1
United Kingdom
On expiry of the time limits laid down in Article 21(2), (3) and (5), the Member State concerned shall be obliged to pay interest in accordance with the following conditions:
the interest rate shall be the rate applied by the European Central Bank to its principal refinancing operations, as published in the C series of the Official Journal of the European Union , in force on the first calendar day of the month in which the time limit expires, increased by two percentage points. That rate shall be increased by a quarter of a percentage point for each month of delay.
the interest shall be payable for the period elapsing from the calendar day following expiry of the time limit for payment up to the day of payment.
In respect of the contribution referred to in point (a) of Article 21(7), the interest shall be credited to one of the accounts provided for in Article 1(6) of the 10th EDF Internal Agreement.
In respect of the contribution referred to in point (b) of Article 21(7), the interest shall be credited to the Investment Facility in accordance with Article 53(1).