# The Fishing Boats (Satellite-Tracking Devices) Scheme (Northern Ireland) 2013, Section 9: Interest


(1) Where the Department recovers on demand an amount in accordance with Article 8, it may also recover interest on that amount at a rate of 1% above the LIBOR calculated on a daily basis for the period beginning with the day following that on which the amount was paid and ending on the day on which the amount is recovered.
(2) In any proceedings for recovery under this Scheme, a certificate issued by the Department stating the LIBOR applicable for any day specified in the certificate is conclusive evidence of the LIBOR in question if the certificate also states that the Bank of England notified the Department of the LIBOR in question.
(3) In this Article “LIBOR”, in relation to any day, means the sterling three-month London inter-bank offered rate in force for that day rounded if necessary to two decimal places.

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Source: https://www.legislation.gov.uk/nisr/2013/212/section/9 (the official version)
Page: https://openlegislation.uk/fishing-boats-satellite-tracking-devices-scheme-northern-ireland-2013/section-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.