Document ID: chunk:federal_register_of_legislation:C2004A01222:clause:2_545
Version: federal_register_of_legislation:C2004A01222
Segment Type: clause
Provision Reference: sch 2 cl 545
Character Range: 36757–37988

545  Interest up to judgment

 (1) In exercising its powers under section 543 or in a proceeding under section 544, the Court or a court of competent jurisdiction must, on application:
 (a) order that there be included in the sum for which an order is made or judgment given, interest at such rate as the Court or court of competent jurisdiction (as the case requires) thinks fit on all or any part of the money for all or any part of the period between the date when the cause of action arose and the date on which the order is made or judgment entered; or
 (b) without proceeding to calculate interest in accordance with paragraph (a), order that there be included in the sum for which an order is made or judgment given, a lump sum instead of any such interest.

 (2) Subsection (1) does not:
 (a) authorise the giving of interest on interest or of a sum instead of such interest; or
 (b) apply in relation to any debt on which interest is payable as of right whether by virtue of an agreement or otherwise; or
 (c) authorise the giving of interest, or a sum instead of interest, except by consent, on any sum for which judgment is given by consent.

 (3) Subsection (1) does not apply if good cause is shown to the contrary.