Part 5General

F1Charging orders

46CRepayable amount

(1)

The repayable amount is the lower of—

(a)

the total of the qualifying expenses and any sum recoverable under subsection (2), and

(b)

any amount determined by the local authority.

(2)

A local authority may, in addition to any qualifying expenses, recover from the owner of the building concerned—

(a)

the amount of any fee payable in respect of registering a charging order or the discharge of a charging order,

(b)

any administrative or other expenses incurred by it in connection with the charging order or discharge, and

(c)

interest, at such reasonable rate as it may from time to time determine, from the date when a demand for payment is served until the whole amount is paid.

(3)

The local authority must determine—

(a)

the number of annual instalments, being no fewer than 5 and no more than 30, in which the repayable amount is to be paid, and

(b)

the date in each year on which the instalment becomes due.