S.I. No. 254/2010 - Housing (Interest on Moneys Owed to Housing Authorities) Regulations 2010.

1. These Regulations may be cited as the Housing (Interest on Moneys Owed to Housing Authorities) Regulations 2010.

Commencement

2. These Regulations come into operation on 14 June 2010.

Rate of interest

3. A rate of interest of 6% per annum is payable on so much of any rent, charges, fees or loan repayments or any other moneys due and owing to a housing authority under any of the provisions to which

section 33

of the

Housing (Miscellaneous Provisions) Act 2009

applies which remain unpaid in respect of the period between the date on which the moneys become payable and the date on which payment is made.

GIVEN under my hand,

2 June 2010.

MICHAEL FINNERAN,

Minister of State at the Department of the Environment, Heritage and Local Government.

EXPLANATORY NOTE

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

These Regulations prescribe an interest rate of 6% per annum on overdue moneys payable to housing authorities under statutory provisions specified in section 33(1) of the

Housing (Miscellaneous Provisions) Act 2009

, including housing rents and loans, affordable housing clawbacks and equity charges on dwellings sold under incremental purchase and under the tenant purchase of apartments scheme. The

Housing (Miscellaneous Provisions) Act 2009

(Commencement) Order 2010 (

S.I. No. 253 of 2010

) brought section 33 into operation on 14 June 2010 in respect of certain services specified in subsection (1).

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of

4

th June

, 2010.

I, MICHAEL FINNERAN, Minister of State at the Department of the Environment, Heritage and Local Government, in exercise of the powers conferred on me by sections 3 and 33 of the

Housing (Miscellaneous Provisions) Act 2009

(No. 22 of 2009) and the Environment, Heritage and Local Government (Delegation of Ministerial Functions) (No. 2) Order 2009 (

S.I. No. 407 of 2009

), hereby make the following Regulations

Citation