LEGAL PROFESSION UNIFORM GENERAL RULES 2015 - REG 89A
Interest rate for payments
LEGAL PROFESSION UNIFORM GENERAL RULES 2015 - REG 89A
Interest rate for payments
89A Interest rate for payments
(1) This clause applies to a claim against a
fidelity fund made on or after the commencement of the clause.
(2) For the
purposes of section 243 of the Uniform Law, the rate of interest is the rate
that is equal to the Cash Rate Target as at the relevant date, increased by 1
percentage point.
(3) In this rule--
"Cash Rate Target" means the percentage, or maximum percentage, specified by
the Reserve Bank of Australia as the Cash Rate Target.
"relevant date" means the date on which the claim against the fidelity fund
concerned was made.
