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DEVELOPMENT LOANS (AGRICULTURE AND FISHERIES) ACT (NORTHERN IRELAND) 1968 - SECT 6

6.(1) The rates of interest to be charged on any loans made by the Ministry
under this Act shall be such as may from time to time be determined by the
Ministry of Finance.

(2) Where any instalment of principal or interest or both principal and
interest due on foot of any loan made under this Act is more than thirty-one
days in arrear additional interest at a rate not exceeding six and one-half
per centum per annum [or such other rate as may from time to time be
determined by an order made by the Ministry of Finance subject to negative
resolution] shall, notwithstanding any enactment or rule of law to the
contrary, be chargeable on the amount of such arrears and shall be recoverable
therewith; but the Ministry of Finance may in such cases as it thinks fit
direct that the payment of such additional interest may be waived.

© 1968 Crown Copyright

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