# The Late Payment of Commercial Debts (Scotland) Regulations 2015, Note: Explanatory note


(This note is not part of the Regulations)
These Regulations implement requirements of Directive 2011/7/EU of the European Parliament and of the Council on combating late payment in commercial transactions (OJ L 48, 23.2.2011, p.1).
These Regulations amend the Late Payment of Commercial Debts (Interest) Act 1998. They clarify that, where a creditor has contracted with a public authority and that authority has not paid the debt due under that contract to the creditor by the time that the payment period prescribed by that Act expires, that creditor is entitled to statutory interest at the rate set out in the Act, even where no reminder that the debt is due has been given to the purchaser.
No impact assessment has been produced as no cost to the business or voluntary sectors is foreseen.

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Source: https://www.legislation.gov.uk/ssi/2015/226/note (the official version)
Page: https://openlegislation.uk/late-payment-of-commercial-debts-scotland-regulations-2015/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.