60Interest in proceedings for debt or damages

60 Interest in proceedings for debt or damages (1) The Court, on application in any proceeding for the recovery of debt or damages, must, unless good cause is shown to the contrary, give damages in the nature of interest at such rate not exceeding the rate for the time being fixed under section 2 of the **Penalty Interest Rates Act 1983** as it thinks fit from the commencement of the proceeding to the date of the judgment over and above the debt or damages awarded. (2) Nothing in this section— (a) authorises the granting of interest on interest; (b) applies in relation to any sum on which interest is recoverable as of right by virtue of any agreement or otherwise; (c) affects the damages recoverable for the dishonour of a negotiable instrument; (d) authorises the allowance of any interest otherwise than by consent on any sum for which judgment is entered or given by consent; (e) applies in relation to any sum on which interest might be awarded by virtue of section 58 or 59; or (f) limits the operation of any enactment or rule of law which, apart from this section, provides for the award of interest. (3) If the damages awarded by the Court or jury include or if the Court in its absolute discretion determines that the damages awarded include any amount for— (a) compensation in respect of liabilities incurred which do not carry interest as against the person claiming interest; (b) compensation for loss or damage to be incurred or suffered after the date of the award; or (c) exemplary or punitive damages— the Court must not allow interest in respect of any amount so included or in respect of so much of the award as in its opinion represents any such damages. (4) The Court may request a jury to specify in its verdict any amount included in the verdict in respect of the matters referred to in subsection (3). Pt 5 Div. 8 (Heading and ss 61–66) amended by No. 35/1989 s. 23(1), repealed by No. 35/1996 s. 453(Sch. 1 item 80.3), new Pt 5 Div. 8 (Heading and s. 61) inserted by No. 62/1999 s. 12.