reg 5A

Prescribed rate of interest (sections 39A, 39B and 39C)

In force

(1)

For the purposes of sections 39A(5a)(a), 39B(12)(a) and 39C(8)(a) of the Act, the prescribed rate of interest per annum on an unpaid amount will be the prime bank rate for any financial year for which the amount remains unpaid.

(2)

In this regulation—

prime bank rate for a particular financial year means the corporate loan reference rate applied by the Commonwealth Bank of

Australia for corporate lending on the first trading day of the Bank in that financial year.

Research tools for this sectionPro

Cited by Analyse Interrogate History Equivalents

The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.