sec.78AInterest rate for particular claims— Act , s 787

### sec.78A Interest rate for particular claims— Act , s 787 For the Act , section 787 (4) (a) , the interest rate prescribed is the rate equal to the bank bill yield rate, rounded to the nearest second decimal point, worked out on a daily basis for each day the interest is to be paid, and compounded annually. In this section— bank bill yield rate , for a particular day, means the monthly average yield of 3-month bank accepted bills published by the Reserve Bank of Australia for the month of May in the financial year immediately preceding the financial year in which the day occurs. s 78A ins 2021 SL No. 39 s 6 (sec.78A-ssec.1) For the Act , section 787 (4) (a) , the interest rate prescribed is the rate equal to the bank bill yield rate, rounded to the nearest second decimal point, worked out on a daily basis for each day the interest is to be paid, and compounded annually. (sec.78A-ssec.2) In this section— bank bill yield rate , for a particular day, means the monthly average yield of 3-month bank accepted bills published by the Reserve Bank of Australia for the month of May in the financial year immediately preceding the financial year in which the day occurs.