VICIn ForceAct
Land Acquisition and Compensation Act 1986
55Penalty interest
Start here
Get a plain-English read of 55
Turn the raw legal text into a practical explanation grounded in Land Acquisition and Compensation Act 1986.
55 Penalty interest
Subject to section 106(1), if the Authority fails to pay any amount of compensation which it has agreed to pay or which has been awarded under this Act within 30 days of the date of that agreement or award, the interest payable on that amount is five per centum per annum higher than the rate of interest for the time being determined under section 52.