sec.91Rate of interest for instalments— Act , s 462

sec.91 Rate of interest for instalments— Act , s 462

For section 462 (1) (b) of the Act , the rate of interest prescribed for instalments is— for a relevant post-Wolfe freeholding lease—the fixed rate of interest, compounding annually, applying to instalments when the lease was issued; or for another post-Wolfe freeholding lease—the Suncorp-Metway business variable lending rate accruing daily and compounding annually. In this section— relevant post-Wolfe freeholding lease means a post-Wolfe freeholding lease that is— an auction purchase freehold issued under the repealed Act on or before 31 December 1991; or a special lease purchase freehold issued under the repealed Act because of an application for conversion of tenure received before 3 October 1991 for a special lease issued— under the repealed Act and the repealed Industrial Development Act 1963 , section 9 ; or before the commencement of the repealed Industrial Development Act 1963 under a recommendation of the Minister administering industrial development; or subject to a condition about the freeholding of the lease; or a special lease purchase freehold issued under the repealed Act because of an application for conversion of tenure received before 5 February 1990, other than a special lease purchase freehold mentioned in paragraph (b) . (sec.91-ssec.1) For section 462 (1) (b) of the Act , the rate of interest prescribed for instalments is— for a relevant post-Wolfe freeholding lease—the fixed rate of interest, compounding annually, applying to instalments when the lease was issued; or for another post-Wolfe freeholding lease—the Suncorp-Metway business variable lending rate accruing daily and compounding annually. (sec.91-ssec.2) In this section— relevant post-Wolfe freeholding lease means a post-Wolfe freeholding lease that is— an auction purchase freehold issued under the repealed Act on or before 31 December 1991; or a special lease purchase freehold issued under the repealed Act because of an application for conversion of tenure received before 3 October 1991 for a special lease issued— under the repealed Act and the repealed Industrial Development Act 1963 , section 9 ; or before the commencement of the repealed Industrial Development Act 1963 under a recommendation of the Minister administering industrial development; or subject to a condition about the freeholding of the lease; or a special lease purchase freehold issued under the repealed Act because of an application for conversion of tenure received before 5 February 1990, other than a special lease purchase freehold mentioned in paragraph (b) .

• (a) for a relevant post-Wolfe freeholding lease—the fixed rate of interest, compounding annually, applying to instalments when the lease was issued; or
• (b) for another post-Wolfe freeholding lease—the Suncorp-Metway business variable lending rate accruing daily and compounding annually.