South Australian Consolidated Acts South Australian Consolidated Acts32—Interest on debt under award
(1) Unless a contrary
intention is expressed in the arbitration agreement, where the arbitrator or
umpire makes an award for the payment of money, the arbitrator or umpire shall
have power to direct that interest at the same rate as that at which interest
is payable on a judgment debt of the Supreme Court shall be payable on and
from the date of making of the award or such later date as the arbitrator or
umpire may specify on so much of the money as is from time to time unpaid and
any interest that so accrues shall be deemed to form part of the award.
(2) If judgment is
entered by the Court in terms of an award, interest shall cease to accrue in
pursuance of a direction under this section on the date of the entry of the
judgment.