75Interest on money in common fund

### 75 Interest on money in common fund > > (1)  At the end of every half-year ending on 30 June or 31 December the Principal Registrar is to – > > > > > > (a) fix the annual rate at which interest is to be credited to an account in which money forming part of the common fund was standing at the end of that half-year; and > > > > > > > (b) credit interest at that rate to each account. > > > (2)  Interest is not to be computed on an amount less than $1. > > > (3)  Interest on money in the common fund accrues by calendar months and is not to be computed for any shorter period than one month unless the Court or a judge or the Principal Registrar otherwise directs. > > > (4)  For the purposes of [subrule (3)](#GS75@Gs3@EN) , interest – > > > > > > (a) is to be computed from a day to be fixed by the Principal Registrar in the month following that in which the money is paid into the common fund; and > > > > > > > (b) ceases on the corresponding day of the last month preceding the day of the withdrawal of the money from the common fund. > > > (5)  Interest paid into the common fund by cheque does not form part of the common fund until the cheque has been credited in the books of the authorised deposit-taking institution into which it has been paid. > > > (6)  If money that has been invested as part of the common fund is paid out of Court before the end of a half-year, interest that has accrued but has not been credited to the account is to be computed at the rate last fixed under [subrule (1)](#GS75@Gs1@EN) . > > > (7)  The Principal Registrar may deduct from the amount of the interest payable on money under [subrule (6)](#GS75@Gs6@EN) a sum not exceeding 0.5% a year of that amount and the amount so deducted remains part of the common fund. > > > (8)  In this rule, > > > > > ***authorised deposit-taking institution*** means a body corporate that is an authorised deposit-taking institution for the purposes of the *Banking Act 1959* of the Commonwealth.