# The Less Favoured Area Support Scheme (Scotland) Regulations 2002, Regulation 16: Rate of interest


Where the Scottish Ministers intend to recover on demand the whole or any part of a payment of less favoured area support pursuant to regulation 15, unless the sum recovered is paid as a result of their own error, interest shall be charged thereon at the rate of one percentage point above the sterling three month London Interbank Offered Rate on a day-to-day basis for the period from payment to recovery.

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Source: https://www.legislation.gov.uk/ssi/2002/139/regulation/16 (the official version)
Page: https://openlegislation.uk/less-favoured-area-support-scheme-scotland-regulations-2002/regulation-16
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.