Statutory Instrument 1992 No. 1515

The Non-Domestic Rating (Payment of Interest) (Amendment) Regulations 1992

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© Crown Copyright 1992

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1992 No. 1515

RATING AND VALUATION

The Non-Domestic Rating (Payment of Interest) (Amendment) Regulations 1992

The Secretary of State for the Environment as respects England and the Secretary of State for Wales as respects Wales, in exercise of the powers conferred on them by sections 55(2) and (7), and 143(1) of the Local Government Finance Act 1988^[1] and section 7 of the Non-Domestic Rating Act 1992^[2], and of all other powers enabling them in that behalf, hereby make the following Regulations:

Citation and commencement
    1.    These Regulations may be cited as the Non-Domestic Rating (Payment of Interest) (Amendment) Regulations 1992 and shall come into force on 16th July 1992.

Amendment of Regulations
    2.    Regulation 3 (entitlement to interest) of the Non-Domestic Rating (Payment of Interest) Regulations 1990^[3] is amended—
 (a) in paragraph (1) by the substitution for the words "subject to paragraph (2) "of the words "subject to paragraphs (2) and (2A)"; and
 (b) by the insertion, after paragraph (2), of the following paragraph—
"  (2A)  Where a repayment falls to be made in accordance with the Central Lists Regulations, paragraph (1) does not apply insofar as the relevant alteration is made in consequence of the Non-Domestic Rating Act 1992." .

Michael Howard

Secretary of State for the Environment

25th June 1992

David Hunt

Secretary of State for Wales

23rd June 1992

These Regulations further amend the Non-Domestic Rating (Payment of Interest) Regulations 1990, which provide for the payment of interest in certain cases where, in consequence of an alteration to a rating list compiled under Part III of the Local Government Finance Act 1988 (non-domestic rating), an amount falls to be repaid or credited by a charging authority or the Secretary of State.
The effect of the amendment made by these Regulations is that no interest is payable where a repayment or credit is made following the alteration of a central non-domestic rating list and the alteration is made in consequence of the Non-Domestic Rating Act 1992.

[1] 1988 c. 41. Section 55(7) was amended by the Local Government Finance Act 1992 (c. 14), Schedule 10, paragraph 1. back

[2] 1992 c. 46. back

[3] S.I. 1990/1904, amended by S.I. 1991/2111. back