# The Non-Domestic Rating (Payment of Interest) (Scotland) Regulations 1992, Note: Explanatory note


(This note is not part of the Regulations)
These Regulations provide for the payment of interest in certain cases where a rating authority in Scotland makes, or has since 1st April 1990 made, a repayment of rates, following on an overpayment in error or in consequence of the entry on to a valuation roll of a valuation which has subsequently been reduced.
Regulation 3 prescribes the circumstances in which interest is payable. Regulations 4 to 6 provide rules for calculating the amount of interest payable, depending on when the repayment in question was made. Regulation 7 enables a rating authority to recover interest paid in cases where they are recovering the principal sum which gave rise to that interest.

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Source: https://www.legislation.gov.uk/uksi/1992/2184/note (the official version)
Page: https://openlegislation.uk/non-domestic-rating-payment-of-interest-scotland-regulations-1992/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.