Civil Proceedings Regulation 2024
sec.15Calculation and crediting of interest
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sec.15 Calculation and crediting of interest
Within 15 days after the end of each half-year, the chief executive must, for each proceeding or account to which money in court is credited— calculate the interest that accrued during the half year on the amount of the money in court; and credit the proceeding or account with the amount of the interest. Before paying an amount of money in court credited to a proceeding or account to a person entitled to it, the chief executive must— calculate the interest that accrued on the amount since interest was last calculated and credited to the proceeding or account under subsection (1) ; and credit the proceeding or account with the amount of the interest. In this section— half year means a period of 6 months ending on 30 June or 31 December in a year. (sec.15-ssec.1) Within 15 days after the end of each half-year, the chief executive must, for each proceeding or account to which money in court is credited— calculate the interest that accrued during the half year on the amount of the money in court; and credit the proceeding or account with the amount of the interest. (sec.15-ssec.2) Before paying an amount of money in court credited to a proceeding or account to a person entitled to it, the chief executive must— calculate the interest that accrued on the amount since interest was last calculated and credited to the proceeding or account under subsection (1) ; and credit the proceeding or account with the amount of the interest. (sec.15-ssec.3) In this section— half year means a period of 6 months ending on 30 June or 31 December in a year.
- (a) calculate the interest that accrued during the half year on the amount of the money in court; and
- (b) credit the proceeding or account with the amount of the interest.
- (a) calculate the interest that accrued on the amount since interest was last calculated and credited to the proceeding or account under subsection (1) ; and
- (b) credit the proceeding or account with the amount of the interest.