86
CurrentInterest forms part of State debt
86 Interest forms part of State debt
(1)
The State debt to which a debt recovery order applies is taken to include any interest that becomes payable on the State debt after the order is made.
(2)
Accordingly, a reference in this Act to a State debt includes a reference to any interest payable on the State debt.
(3)
Interest is not payable on the interest component of a State debt.
(4)
This section extends to any interest and penalty tax payable under the Taxation Administration Act 1996 or payable in respect of a State debt for which judgment has been given by a court.
This Act’s bill:Second reading speech
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