Where Ministers intend to recover grant (in whole or in part) in accordance with regulation 11(2)(d), they may also recover (on demand) interest on that amount at the rate in paragraph (2).

The rate is 1 per cent above the sterling 3 month London interbank offered rate on a day to day basis, from the date of payment of grant until the date of recovery.

In any proceedings for recovery under these Regulations, a certificate issued by Ministers showing the rate or rates of interest, the amount of such interest recoverable and the period for which interest is calculated shall, unless the contrary is shown, be conclusive of those matters.