Northern Territory Consolidated Acts

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CONSTRUCTION CONTRACTS (SECURITY OF PAYMENTS) ACT - SECT 41

Payment of amount determined and interest

41. Payment of amount determined and interest

(1) A party that is liable to pay an amount under a determination must do so on or before the date stated in the determination.

(2) Unless the determination provides otherwise, interest at the rate prescribed by the Regulations must be paid on the part of the amount that is unpaid after the date stated in the determination.

(3) The interest forms part of the determination.

(4) If, under section 45(1), a judgment is entered in the terms of a determination, interest under subsection (2) ceases to accrue.



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