63Interest rates

#### 63 Interest rates 63 Interest rates > > (1) The prescribed rate of interest is 8 percent per year plus the Bank Accepted Bill rate rounded to the second decimal place (rounding 0.005 upwards) for the purposes of section 12.12 (2) of, and clause 24 (3) (b) of Schedule 4 to, the Act. > > > (2) The prescribed rate of interest is 8 percent for the purposes of clause 22 (2) of Schedule 2, and clause 11 (5) of Schedule 4, to the Act. > > > (3) In this clause— > > > > Bank Accepted Bill rate has the same meaning as in section 22 (4) of the [Taxation Administration Act 1996](/view/html/inforce/current/act-1996-097).