LegalizeThe Opencast Coal (Rate of Interest on Compensation) Order 1990
Made: 7th February 1990
Laid before Parliament: 12th February 1990
Coming into force: 5th March 1990
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 1990 and shall come into force on 5th March 1990.
2
The rate of interest for the purposes of section 35 of the Opencast Coal Act 1958 shall be 155/16 per cent. per annum.
3
The Opencast Coal (Rate of Interest on Compensation) (No. 2) Order 1988[^f00002] is hereby revoked.
Signed
Stephen Dorrell — John Taylor — Two of the Lords Commissioners of Her Majesty’s Treasury — 7th February 1990
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 increases the rate of interest from 11X per cent. to 155/16 per cent. per annum and revokes the Opencast Coal (Rate of Interest on Compensation) (No. 2) Order 1988.
Footnotes
[^f00001]: 1958 c. 69.
[^f00002]: S.I. 1988/2094.
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.