PART 6E+W+SPayments

45.—(1) In this Chapter—

“draw down” has the same meaning as it has in Part 7;

“in default” means a failure to pay in full an invoiced amount by [F1the end of] the payment due date;

“invoiced amount” means the total amount payable by a payer as stated in the invoice issued to that payer under regulation 41, 43 [F2, 44 or 49A];

“payer” [F3, subject to regulation 47(7),] means a person to whom an invoice is issued under regulation 41, 43 [F4, 44 or 49A];

“payment due date” means the day specified in an invoice in accordance with regulation 38(2) as the date by which it is to be paid.

F5(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F5(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments