
1 
These Regulations may be cited as the Air Passenger Duty and Other Indirect Taxes (Interest Rate) Regulations 1997 and shall come into force on 1st April 1997.
2 
For the purposes of—
(a) paragraph 7 of Schedule 6 to the Finance Act 1994,
(b) paragraph 21 of Schedule 7 to that Act,
(c) section 74 of the Value Added Tax Act 1994, and
(d) paragraph 26 of Schedule 5 to the Finance Act 1996,the rate applicable under section 197 of the Finance Act 1996 shall be 6.25 per cent. per annum.
3 
On the coming into force of these Regulations, for the purposes of—
(a) paragraph 9 of Schedule 6 to the Finance Act 1994,
(b) paragraph 22 of Schedule 7 to that Act,
(c) section 78 of the Value Added Tax Act 1994, and
(d) paragraph 29 of Schedule 5 to the Finance Act 1996,the rate applicable under section 197 of the Finance Act 1996 shall be 6 per cent. per annum.
Bowen Wells
Roger Knapman
Two of the Lords Commissioners of Her Majesty’s Treasury
20th March 1997