Coal Acquisition (Re-acquisition Arrangements) Order 1997
21Interest on compensation
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21 Interest on compensation
21 Interest on compensation
(1) Interest is payable in respect of an amount of compensation determined under this Order, for the period from the date on which the determination of the amount was made up to and including the date of payment. However, if the determination is made before an application for the compensation is made, interest is not payable for any period before the application is made.
(2) Interest under this clause is to be at a rate and on terms determined by the Treasurer and notified in writing to the Board.
(3) The amount of compensation in respect of which interest under this clause is payable is to be reduced by the amount of any interim or preliminary payment of compensation made to the applicant.