112Interest on damages

112 Interest on damages

112 Interest on damages

(1) Interest accrues on an amount of damages ordered to be paid by the Tribunal from the date on which the order takes effect until payment.

(2) Despite subsection (1), the Tribunal may order that interest accrues on an amount of damages ordered to be paid by it from a date that is earlier than the date on which its order is made.

(3) Interest referred to in this section accrues at the same rate as that applicable to a judgment of the District Court.

s 112: Am 1981 No 15, Sch 2 (14); 1982 No 142, Schs 3 (9), 4 (24); 1986 No 218, Sch 1 (3); 1994 No 28, Sch 5 (8). Subst 2004 No 79, Sch 1 [3].