# Commission Implementing Regulation (EU) No 908/2014 of 6 August 2014 laying down rules for the application of Regulation (EU) No 1306/2013 of the European Parliament and of the Council with regard to paying agencies and other bodies, financial management, clearance of accounts, rules on checks, securities and transparency, Article 27: Interest applicable to recovery of undue payments

Extent: E+W+S+N.I.

1. Unless otherwise provided in sectoral agricultural legislation, the interest on undue payments to be recovered as a consequence of irregularity or negligence, shall be calculated for the period elapsing between the expiry of the payment deadline for the beneficiary indicated in the recovery order and the date of the repayment or deduction. The payment deadline shall not be set at more than 60 days after the recovery order. A relevant authority may decide not to recover the interest when the amount of interest does not exceed EUR 5£5.00.On duly justified grounds, the Secretary of State may decide not to recover the interest on undue payments.
2. The interest rate to be applied shall in any case not be lower than the interest rate provided for by national lawthe law applying in the constituent nation for the recovery of comparable undue expenditures or for the collection of receivables due.

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Source: https://www.legislation.gov.uk/eur/2014/908/article/27 (the official version)
Page: https://openlegislation.uk/eu-regulation-2014-908/article-27
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.