[5A Compensation arising out of late payment]
Late Payment of Commercial Debts (Interest) Act 1998 (1998 c 20) | Legislation

[5A  Compensation arising out of late payment]

[(1)     Once statutory interest begins to run in relation to a qualifying debt, the supplier shall be entitled to a fixed sum (in addition to the statutory interest on the debt).

(2)     That sum shall be—

(a)     for a debt less than £1,000, the sum of £40;

(b)

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

The pari passu principle and collection remedies for the office-holder—the position under the Insolvency

The pari passu principle and collection remedies for the office-holder—the position under the Insolvency (England and Wales) Rules 2016The primary function of office-holders in personal and corporate insolvency is to collect in the assets belonging to a company or individual and to distribute these

LEXISNEXIS

Fiduciary Duties

Fiduciary DutiesWho is a fiduciary?There is no comprehensive list of the relationships which give rise to the existence of fiduciary duties under common law. Some relationships are automatically fiduciary, eg those between trustee and beneficiary, solicitor and client, principal and agent, business

LEXISNEXIS

Criminal damage

Criminal damageGeneralSimple criminal damage is triable either way unless the value of the alleged damage is £5,000 or less, in which case the offence will be treated as if it were triable only summarily.Where the damage is caused by fire or the racially aggravated form of the offence is charged,

LEXISNEXIS

Possession of a bladed article

Possession of a bladed articleThe offence of possession of a bladed articleThe offence of having a bladed article in a public place can be tried in either the magistrates' court or the Crown Court. The magistrates' court will decline jurisdiction in those cases where it appears that its powers of