24Interest on compensation determined in accordance with this instrument

24 Interest on compensation determined in accordance with this instrument

24 Interest on compensation determined in accordance with this instrument

(1) There shall, subject to subclauses (2) and (3), be payable in respect of an amount of compensation determined or deemed to be determined in accordance with this instrument, from the date on which the determination of the amount was made up to and including the date of payment, interest at a rate, and on terms, determined by the Treasurer for the purposes of this clause and notified in writing to the Board.

(2) Where payment of an amount of compensation determined in accordance with this instrument is postponed under clause 25 (3), interest is payable under subclause (1) in respect of the amount only from the date to which payment of the amount was postponed up to and including the date of payment.

(3) No interest is payable under subclause (1) in respect of any amount deducted from an amount of compensation by the Board pursuant to clause 25 (4).

cl 24: Am 14.1.1994.