{
  "url": "https://openlegislation.uk/further-education-attribution-of-surpluses-and-deficits-regulations-1993/regulation-7",
  "json_url": "https://openlegislation.uk/further-education-attribution-of-surpluses-and-deficits-regulations-1993/regulation-7.json",
  "legislation": "uksi/1993/609",
  "legislation_title": "The Further Education (Attribution of Surpluses and Deficits) Regulations 1993",
  "legislation_url": "https://openlegislation.uk/further-education-attribution-of-surpluses-and-deficits-regulations-1993",
  "path": "regulation/7",
  "kind": "regulation",
  "number": "7",
  "heading": null,
  "text": "(1) Beginning on 1st April 1993 interest at the relevant rate shall be payable on any unpaid amount for the time being due or to become due under regulation 6 above.\n(2) Interest shall accrue from day to day compounded with six-monthly rests and shall be paid at the same time as payments are made under regulation 6 above.\n(3) In this regulation “the relevant rate” means the London Inter-Bank Bid Rate (LIBID) for three month deposit less one eighth of one percentage point.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1993/609/regulation/7",
    "retrieved_at": "2026-10-29T14:02:15.778462+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."
}