Penalty Interest Rates Act 1983

s. 15

Any judgment creditor who is aggrieved at the refusal or failure of any Court to make an order for the payment of interest under the provisions of any of the enactments referred to in the foregoing provisions of this Act because of the cessation by the Australian Loan Council of the approval of a maximum rate of interest for long-term borrowing for new public securities issued by semi-government authorities may without any further or other authority than the provisions of this section at any time apply to the Court for the making of such an order and the Court on any such application may in accordance with the provisions of that enactment make an order for the payment of interest at a rate not exceeding the rate of 15⋅8 per centum per annum.