The Housing (Rate of Interest) Order 1956
EXPLANATORY NOTE
(This Note is not part of the Regulations, but is intended to indicate their general purport.) These Regulations increase from five to six per cent. the rate of compound interest payable on sums recoverable by local authorities in respect of the improvement grants paid by them under section 20 of the Housing Act, 1949, where there has been a breach of the conditions governing those grants, and revoke the Regulations which prescribed the former rate.