Determination of rate of interest
104C Determination of rate of interest
The Governor in Council may from time to time, by order published in the Government Gazette, determine the rate of interest to be paid in respect of unpaid compensation under this Part.
An order under subsection (1) may be made only on the recommendation of the Minister, after the Minister has consulted—
the Attorney‑General; and
the Treasurer; and
the Minister administering the Major Transport Projects Facilitation Act 2009.
The Minister may only recommend a rate that the Minister considers—
is compensatory in nature; and
is commensurate with a fair market rate that reflects the opportunity cost of money.
S. 105 amended by No. 6/2025 s. 172.
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