LegalizeThe Opencast Coal (Rate of Interest on Compensation) Order 1988
Made: 16th May 1988
Laid before Parliament: 17th May 1988
Coming into force: 7th June 1988
The Treasury, in exercise of the powers conferred upon them by sections 35(8) and 49(4) of the Opencast Coal Act 1958[^f00001], and of all other powers enabling them in that behalf, hereby make the following Order:
1
This Order may be cited as the Opencast Coal (Rate of Interest on Compensation) Order 1988, and shall come into force on 7th June 1988.
2
The rate of interest for the purposes of section 35 of the Opencast Coal Act 1958 shall be 9¼ per cent. per annum.
3
The Opencast Coal (Rate of Interest on Compensation) Order 1987[^f00002] is hereby revoked.
Signed
Michael Neubert — Tony Durant — Two of the Lords Commissioners of Her Majesty’s Treasury — 16th May 1988
Explanatory note
(This note is not part of the Order)
Section 35 of the Opencast Coal Act 1958 provides that interest shall be payable in addition to compensation in certain circumstances. This Order decreases the rate of interest from 10¼ per cent. to 9¼ per cent. per annum and revokes the Opencast Coal (Rate of Interest on Compensation) Order 1987.
Footnotes
[^f00001]: 1958 c. 69.
[^f00002]: S.I. 1987/700.
Reading this document does not replace reading the official text published on legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. We assume no responsibility for any inaccuracies arising from the conversion of the original CLML XML to this format.
This text is published under legislation.gov.uk's own terms of reuse, not a Legalize or public-domain licence.
legislation.gov.uk
Open Government Licence v3.0 (attribution required)
© Crown and database right. Derived from content available under the Open Government Licence v3.0 from legislation.gov.uk.