Interest on Money Claims Bill

  • enacted
  • Previous title has changed

Hon Amy Adams

Interest on Money Claims Bill

Government Bill



Bill note
445Primary purposePurpose
445AAdditional purpose
447ATransitional, savings, and related provisions
448Act binds the Crown
449Period for mandatory award of interest
450Mandatory award of interest
451Initial amount
452Calculation of interest awarded under section 450
453Internet site calculator
454Calculation if judgment debt paid in full in 1 payment
455Calculation if judgment debt paid in instalments
456References to paying debt in full or paying instalments
457Discretion if money judgment expressed in foreign currency
458Discretion in special circumstances
459No interest to be awarded on penalty
460Restrictions on award of interest for certain specified periods
461No interest to be awarded for period contrary to provisions of another Act
462Award of interest if contract makes relevant provision
463Rules of interpretation for contractual provisions
464Special provision for interest or lump sum relating to contracts entered into before commencement
465Court may not award interest unless procedural requirements complied with
466Preservation of common law and equitable rights
468Transitional provisions for civil proceedings already commenced in senior court
469Transitional provision for civil proceedings already commenced in District Court
470AACalculation of interest for amounts under other enactments
470Amendments to other enactments
Legislative history

The Parliament of New Zealand enacts as follows: