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S.I. No. 483/2010 - Housing (Interest on Moneys Owed to Housing Authorities) (Amendment) Regulations 2010.

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 12th October, 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:

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

2. These Regulations are deemed to have come into operation on 14 June 2010.

3. The Housing (Interest on Moneys Owed to Housing Authorities) Regulations 2010 are amended by substituting for Regulation 3 the following:

“3. A rate of interest of 0% per annum is payable for the purposes of section 33 of the Housing (Miscellaneous Provisions) Act 2009 (No. 22 of 2009) on so much of any loan repayments due and owing to a housing authority under section 11 of the Act of 1992 and section 25 of the Housing (Traveller Accommodation) Act 1998 (No. 33 of 1998) 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.

4. A rate of interest of 6% per annum is payable for the purposes of section 33 of the Housing (Miscellaneous Provisions) Act 2009 on so much of any rent, charges, fees or any other moneys due and owing to a hous-ing authority under any of the provisions, other than those referred to in Regulation 3, to which the said section 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.”

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GIVEN under my hand,

30 September 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 amend the Housing (Interest on Moneys Owed to Housing Authorities) Regulations 2010 from 14 June 2010, the commencement date of those Regulations, to prescribe, under section 33 of the Housing (Miscellaneous Provisions) Act 2009 (No. 22 of 2009)—

• an interest rate of 0% on overdue repayments of loans advanced by housing authorities for housing and for travellers’ caravans and sites, and

• an interest rate of 6% on arrears of moneys owed to housing authorities for the other housing services to which section 33 of the 2009 Act applies.

The original Regulations prescribed a single interest rate of 6% for arrears of moneys owed to housing authorities in respect of all housing services to which section 33 of the 2009 Act applies.

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 loans advanced by housing authorities for housing and for travellers’ caravans and sites and in respect of some of the other services specified in section 33(1).