The Common Agricultural Policy Single Farm Payment and Support Schemes (Scotland) Regulations 2011 No. 416

SCHEDULE 2 The Scottish Beef Scheme administration and enforcement

Rate of interest

6.—(1) Interest is to be charged in respect of each day of the period referred to in Article 80(2) of Commission Regulation 1122/2009.

(2) For the purposes of Article 80(2) of Commission Regulation 1122/2009, the rate of interest applicable on any day is to be one percentage point above the LIBOR on that day.