37Relevant interest rate

37 Relevant interest rate

37 Relevant interest rate

(1) The relevant interest rate for a period is—

(a) the rate for the period specified by the Chief Commissioner by notice in the Gazette, or

(b) if no rate is specified for the period under paragraph (a)—the monthly NSW Treasury Corporation 10 year bond yield published by the Reserve Bank of Australia in the following months—

(i) 1 January–31 March in a year—the rate published for November in the preceding year,

(ii) 1 April–30 June in a year—the rate published for February in the same year,

(iii) 1 July–30 September in a year—the rate published for May in the same year,

(iv) 1 October–31 December in a year—the rate published for August in the same year.

(2) An amount under subsection (1)(b) must be—

(a) expressed as a percentage, and

(b) rounded to 2 decimal places with 0.005% being rounded up.