Sch 7 para 31
For the purposes of this Part— (a) a payment falls due on the last day of the payment period; (b) subject to sub-paragraph (d), a payment is made— (i) when it is received by the supplier, unless sub-paragraph (c) applies, or (ii) where sub-paragraph (c) applies, when it is received by the finance provider from the company; (c) this sub-paragraph applies if there is an arrangement under which— (i) the supplier receives part payment of an invoiced sum from a finance provider before the end of the payment period; and (ii) the company pays the invoiced sum to the finance provider; (d) where there is any delay in the payment or of any part of the payment being received for which the company is not responsible, the payment is deemed to have been made when it would have been received without that delay.