Explanatory note

These Regulations implement Directive 2011/7/EU of the European Parliament and of the Council of 16th February 2011 on combating late payment in commercial transactions.

They do so by correcting an error in the Late Payment of Commercial Debts (Scotland) Regulations 2013 (S.S.I. 2013/77) which amended the Late Payment of Commercial Debts (Interest) Act 1998 so as to implement the Directive. In section 4(5B) of that 1998 Act, an incorrect reference to an additional 30 day time period is deleted. Section 4(5B) is concerned with determining the date from which interest will run in a case where there is a procedure of acceptance or verification under which the conforming of goods or services with a contract is to be ascertained.

These Regulations do not apply to contracts made before the day on which the Regulations come into force.