New South Wales Consolidated Acts

INDUSTRIAL RELATIONS ACT 1996 - SECT 372

372 Order for interest

(1) An industrial court may order that there is to be included, in an amount ordered to be paid under this Part (except under section 368), interest at the prescribed rate on the whole or any part of that amount for the whole or any part of the period from when the amount became due to the date of the order.

(2) If, in relation to proceedings for such an order, the whole of the amount of money due (or any part of it) is paid before or without the order being made, the industrial court may order that interest is to be paid at the prescribed rate on the amount so paid for the whole or any part of the period from when the amount became due to the date of the payment.

(3) This section does not--

(a) authorise the charging of interest on interest, or

(b) authorise the charging of interest otherwise than by consent on any amount for the payment of which an order is made by consent.

(4) In this section,
"prescribed rate" means the rate of interest prescribed for the time being for the purposes of section 101 of the Civil Procedure Act 2005 .