Australian Capital Territory Numbered Acts

GOVERNMENT CONTRACTUAL DEBTS (INTEREST) (NO 107 OF 1994)

TABLE OF PROVISIONS

           Long Title

   1.      This Act may be cited as the Government Contractual Debts (Interest) Act 1994.  
   2.      This Act commences on the day on which it is notified in the Gazette.  
   3.      In this Act, unless the contrary intention appears—“agency” means an administrative unit of the Public Service; “commercial account” means an account rendered to the Territory or a Territory authority, after the commencement of this Act, that requests payment of moneys in respect of—  
   6.      Where a commercial account is payable by the Territory or a Territory authority, for the purpose of the ascertainment of the due date in relation to that account, the account shall be taken to be payable—  
   7.      (1) Where the Territory or a Territory authority fails to pay a commercial account in full by the due date, it is liable to pay to the creditor a further amount by way of interest ascertained in accordance with this section on so much of the account as remains from time to time unpaid.  
   8.      A term in a contract to which this Act applies that—  
   9.      (1) For the purposes of any Act that—  
   10.     For the purposes of this Act, where the payment of an amount in respect of which a commercial account has been rendered is remitted by mail, the payment is to be taken to be made when it is posted.  
   11.     A contract for the provision of goods or services to, or the execution of works for, the Territory or a Territory authority shall not be entered into unless—