TASIn ForceAct
War Service Land Settlement Act 1950
66Interest
Start here
Get a plain-English read of 66
Turn the raw legal text into a practical explanation grounded in War Service Land Settlement Act 1950.
66 Interest
(1) Notwithstanding the provisions of any other Act no interest shall be payable in respect of any compensation money owing to the owner of any lands described in the third schedule except as provided in this section.
(2) The compensation money payable to the owner of any such lands shall bear interest at the rate of four per cent per annum from the date on which vacant possession was or is given to the Minister to the date of payment of the compensation money or to a date twelve months after the commencement of this Act whichever is the earlier.