Interest
This section has no associated Explanatory Memorandum
7.—(1) Interest must 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 one percentage point above the sterling three month London interbank offered rate on that day (LIBOR).