NSWIn ForceRegulation
Insurance Premiums Order (January–June) 2006
3ALate payment prescribed interest rates: sections 170 (8) and 172 (5)
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3A Late payment prescribed interest rates: sections 170 (8) and 172 (5)
3A Late payment prescribed interest rates: sections 170 (8) and 172 (5)
(1) For the purposes of section 170 (8) of the Act, the prescribed rate of interest is 1.074% per month compounded monthly.
(2) For the purposes of section 172 (5) of the Act, the prescribed rate of interest is 1.074% of the relevant amount or balance per month compounded monthly.
cl 3A: Ins 2005 (815), Sch 1.