52
CurrentHigher rate of interest not payable
Part 8Financial liability protection
Division 3Payments postponed and proceedings stayed
Subdivision APostponement
52 Higher rate of interest not payable
(1)
If a financial arrangement to which this Part applies allows interest to be paid or accepted at a reduced or lower rate if it is paid on or before the due date, interest remains payable at the reduced or lower rate even if (because of this Division) it is not so paid.
(2)
No interest is payable under any other law on the late payment of rates on land if the payments were postponed under this Division.
This Act’s bill:Explanatory memorandumSecond reading speech
Research tools for this sectionSubscription
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.