The Compulsory Acquisition (Interest) Order (Northern Ireland) 1996 (“the 1996 Order”) fixes the rate of interest on compensation money payable under the enactments specified in Article 2(1) of that Order. The rate set by that Order was 0.5% below the standard rate (as defined in that Order) applying from time to time. This Order amends the 1996 Order to set a minimum rate of 2%. This minimum rate will only apply in respect of periods after this Order comes into operation.
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