20
CurrentPrescribed rate
20 Prescribed rate
(1)
For the purposes of section 228 of the Act, the prescribed rate is a simple interest rate equal to 0.2 per cent less than the average of the cash rates applied by the Reserve Bank of Australia over the relevant period (expressed as an annual rate and applied with respect to the relevant period).
(2)
In this regulation—
relevant period, in relation to seized or forfeited money, means the period commencing on the date of the seizure or forfeiture and ending when the money is paid back to the person, or the person compensated in respect of the money, under the
Act.
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