Interest on judgment sums
8 Interest on judgment sums
Interest is to be paid on the unpaid amount of a judgment sum from the date of the judgment until the date on which the judgment sum is paid —
at the rate prescribed by the regulations; or
at the rate set by the court in the judgment or by an order made after the judgment is given.
Subsection (1) applies whether or not —
a suspension order has been made; or
a time for payment order or an instalment order has been made,
unless the court that made such an order orders otherwise.
The judgment creditor may waive the payment of the whole or a part of the interest referred to in subsection (1).
A judgment creditor who waives interest under subsection (3) must advise the court of the fact when applying for an enforcement order under Part 4.
Subsection (1) does not apply to —
a judgment that is registered under section 105(1) of the Service and Execution of Process Act 1992 of the Commonwealth; or
a judgment sum on which interest is payable under another written law.
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