30C—Power to award interest
(1) Unless good cause
is shown to the contrary, the court shall, upon the application of a party in
favour of whom a judgment for the payment of damages, compensation or any
other pecuniary amount has been, or is to be, pronounced, include in the
judgment an award of interest in favour of the judgment creditor in accordance
with the provisions of this section.
be calculated at a rate fixed by the court; and
be calculated in respect of a period fixed by the court (which must, however,
in the case of a judgment given on a liquidated claim, be the period running
from when the liability to pay the amount of the claim fell due to the date of
judgment unless the court otherwise determines); and
payable, in accordance with the court's determination, in respect of the whole
or part of the amount for which judgment is given.
(3) Where a party to
any proceedings before the court is entitled to an award of interest under
this section, the court may, in the exercise of its discretion, and without
proceeding to calculate the interest to which that party may be entitled in
accordance with subsection (2)
of this section, award a lump sum in lieu of that interest.
(4) This section does
authorise the award of interest upon interest; or
authorise the award of interest upon exemplary or punitive damages; or
apply in relation to any sum upon which interest is recoverable as of right by
virtue of an agreement or otherwise; or
affect the damages recoverable upon the dishonour of a negotiable instrument;
authorise the award of any interest otherwise than by consent upon any sum for
which judgment is pronounced by consent; or
limit the operation of any other enactment or rule of law providing for the
award of interest.