5APrescribed rates of interest for administration proceedings, pre-judgment interest and post-judgment interest

5A Prescribed rates of interest for administration proceedings, pre-judgment interest and post-judgment interest

[Rule 5A Inserted by S.R. 2003, No. 142, Applied:03 Dec 2003] [Rule 5A Amended by S.R. 2004, No. 156, Applied:22 Dec 2004] [Rule 5A Amended by S.R. 2004, No. 156, Applied:22 Dec 2004] [Rule 5A Substituted by S.R. 2010, No. 57, Applied:01 Jul 2010]

(1)  For administration proceedings under Division 6 of Part 36 , the prescribed rate of interest for a calendar year, or for part of a calendar year, is the last cash rate published by the Reserve Bank of Australia before 1 January in that year.

(2)  For the purpose of section 34 of the Supreme Court Civil Procedure Act 1932 and rule 347(1)(b) , the prescribed rate of interest for a calendar year, or for part of a calendar year, is a rate equal to 4% plus –

(a) for the period commencing on 1 January in a calendar year and ending on 30 June in that year, or for part of that period, the last cash rate published by the Reserve Bank of Australia before that 1 January; and

(b) for the period commencing on 1 July in a calendar year and ending on 31 December in that year, or for part of that period, the last cash rate published by the Reserve Bank of Australia before that 1 July.

(2A)  [Rule 5A Subrule (2A) inserted by S.R. 2019, No. 50, Applied:09 Sep 2019] For the purpose of section 35A of the Supreme Court Civil Procedure Act 1932 , the prescribed rate of interest that is not to be exceeded under that section for a calendar year, or for part of a calendar year, is the rate specified in subrule (2) .

(3)  For the purpose of section 165 of the and , the prescribed rate of interest for a calendar year, or for part of a calendar year, is a rate equal to 6% plus –