71AInterest

71A Interest

71A Interest

(1) Interest at the prescribed rate is payable on—

(a) an amount or part of an amount payable by a person under section 33 (2) that is not paid by such date as may be specified in a direction under section 33 (3), or

(a1) an amount or part of an amount payable by a person under section 36 (1) that is not paid by such date as may be specified in a direction under section 36 (2), or

(b) an amount or part of an amount payable by a person under section 38 (1) (c) or (d) that is not paid by such date as may be specified in a direction under section 38 (6), or

(b1) an amount or part of an amount payable by a person under section 44 (1) that is not paid by such date as may be specified in a direction under section 44 (2), or

(b2) an amount or part of an amount payable by a person under section 46 (1) that is not paid by such date as may be specified in a direction under section 46 (2A), or

(c) an amount or part of an amount payable by a person under section 48 (1) that is not paid by such date as may be specified in a direction under section 48 (1A), or

(d) an amount or part of an amount payable by a person under section 60C (3) that is not paid by such date as may be specified in a direction under section 60C (4).

(2) In this section—

prescribed rate means—

(a) a rate equivalent to 50 per cent of the rate prescribed for the purposes of section 101 of the Civil Procedure Act 2005, or

(b) if some other rate is prescribed by the regulations, that other rate.

s 71A: Ins 1989 No 137, Sch 1 (8). Am 1990 No 68, Sch 1 (5); 1996 No 94, Sch 4 [26]–[28]; 2005 No 28, Sch 5.26 [2].