Section 1(2)
LPCDIA 1998
Late Payment of Commercial Debts (Interest) Act 1998 · United Kingdom
Interest carried under that implied term (in this Act referred to as “statutory interest”) shall be treated, for the purposes of any rule of law or enactment (other than this Act) relating to interest on debts, in the same way as interest carried under an express contract term.
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Source: legislation.gov.uk · retrieved 2026-08-15