Document ID: chunk:federal_register_of_legislation:C2012A00176:clause:5_8
Version: federal_register_of_legislation:C2012A00176
Segment Type: clause
Provision Reference: sch 5 cl 8
Character Range: 21830–22583

8  After subsection 1341(3)
Insert:
 (3A) If ASIC pays an amount to a person under subsection (1) or (2) on or after 1 July 2013, ASIC must:
 (a) also pay to the person the amount of interest (if any) worked out in accordance with the regulations; and
 (b) do so out of money appropriated by the Parliament for the purposes of this section.
 (3B) Regulations made for the purposes of paragraph (3A)(a) may prescribe different rates for different periods over which the interest accrues. For this purpose, rate includes a nil rate.
 (3C) Interest under subsection (3A) does not accrue in relation to a period before 1 July 2013.

[Minister's second reading speech made in—
House of Representatives on 30 October 2012
Senate on 28 November 2012]
(194/12)