49
CurrentAccrual of interest on first $1,200 of daily balance
Part 6Crediting of interest
Division 5Crediting of interest
49 Accrual of interest on first $1,200 of daily balance
(1)
Interest accrues to an account each day on the balance of the account as at the end of that day.
(2)
For the purposes of this Division, if an account balance actually exceeds $1,200, the account balance is taken to be $1,200.
This Act’s bill:Second reading speech
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