Contents of capital contribution order and payment
This section has no associated Explanatory Memorandum
22.—(1) A capital contribution order must state—
(a)the amount payable under the order;
(b)that the amount must be paid within 28 days of the order or within such other period as may be agreed by the Commission and the individual;
(c)the remedies available to the Commission as a creditor if payment is not made by the due date;
(d)that if a payment is not made by the due date compound interest at the rate of 6% a year with half-yearly rests may be added to that payment from that date;
(e)the individual’s right under regulation 29.
(2) Payments under a capital contribution order must be made to the Commission.