114Interest may be awarded

114 Interest may be awarded (1) If a conciliator or Hearing Commissioner makes an order that a person pay money to another person, the order may include, in the amount ordered to be paid, interest at a specified rate on the whole or a part of that amount for the whole or a part of the period between when the liability or obligation in question arose and when the order takes effect. (2) If the whole or part of an amount claimed in an application is paid during proceedings: (a) before an order is made for payment in respect of the claim; or (b) without an order being made for payment in respect of the claim; an order may be made that interest be paid at a specified rate on the whole or a part of the money paid for the whole or a part of the period between when the liability or obligation in question arose and the date of the payment.

Business Tenancies (Fair Dealings) Act 2003 70 (3) The rate of interest to be paid under this section is not to exceed the rate at which interest is payable on a judgment debt of the Local Court. (4) This section does not: (a) authorise the giving of interest on interest; or (b) apply in relation to any debt on which interest is payable as of right whether because of any agreement or otherwise. (5) On a claim for the payment of money, no order is to be made for the payment of interest under subsection (1) in respect of the period after the date on which an appropriate settlement sum (or the first appropriate settlement sum) has been offered unless the special circumstances of the case warrant the making of the order. (6) For subsection (5), an appropriate settlement sum is a sum offered by a party in settlement of a claim for the payment of money where the amount ordered to be paid (including interest accrued up to and including the date of the offer) is not more than 10% of the sum offered. (7) Subsection (5) does not prevent an order for the payment of interest for the period before the settlement offer is made.