# Mineral Development Act (Northern Ireland) 1969, Paragraph 16


(1) The Ministry shall pay interest upon the compensation money from the date of the vesting of the land or ancillary rights in respect of which, or in consequence of the acquisition of which, the compensation is payable, or, where the compensation is payable by instalments, upon each instalment from the expiration of one month after the date when the instalment falls due, until the time of the payment of the money and interest to the party entitled thereto, or, where such compensation is paid into court, then until the sum with such interest is paid into court accordingly.
(2) The rate of interest payable under this paragraph shall be such rate as may be determined by the Ministry of Finance.

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Source: https://www.legislation.gov.uk/apni/1969/35/schedule/2/paragraph/16 (the official version)
Page: https://openlegislation.uk/mineral-development-act-northern-ireland-1969/schedule-2/paragraph-16
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.