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The Water and Sewerage Services (Northern Ireland) Order 2006
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The Water and Sewerage Services (Northern Ireland) Order 2006, Section 83 is up to date with all changes known to be in force on or before 15 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Interest on sums deposited in pursuance of the deposit conditionN.I.
This section has no associated Explanatory Memorandum
83.—(1) Where for the purposes of paragraph (2)(a) of Article 82 any sums have been deposited with a water undertaker by way of security for the discharge of any obligation, the undertaker shall pay interest at such rate as may be determined either—
(a)by the undertaker with the approval of the Authority; or
(b)in default of a determination under sub-paragraph (a), by the Authority,
on every sum so deposited for every 3 months during which it remains in the hands of the undertaker.
(2) An approval or determination by the Authority for the purposes of this Article—
(a)may be given or made in relation to a particular case or description of cases or generally; and
(b)may be revoked at any time.
Commencement Information
I1Art. 83 wholly in operation at 1.4.2007, see art. 1(2) and S.R. 2007/194, art. 2(2), Sch. 1 Pt. II (subject to art. 3, Sch. 2)
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