46ARate of interest payable on repayments

46A Rate of interest payable on repayments (1) For the purposes of subsections 65SA (1) and 65SB (1) of the Act, the rate of interest payable on a repayment that the Commonwealth is liable to make is the rate payable by the Commonwealth Bank of Australia on a term deposit, made on the day on which the relevant payment was made, of an amount equal to the relevant payment. (2) In subregulation (1): > relevant payment means an amount paid to the Commonwealth by a person under section 65GT, 65H, 65J or 65K of the Act, as the case requires. > repayment means an amount that the Commonwealth is liable to repay to a person under section 65GU, 65H, 65J, 65M, 65N, 65P, 65Q or 65S of the Act, as the case requires, after a relevant payment is paid to the Commonwealth. > term deposit means a deposit for a period of 90 days on which interest is paid at maturity.