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Interest on Money Claims Bill
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Hon Amy Adams
Interest on Money Claims Bill
Government Bill
178—3D
Contents
Bill note
Key
1
Title
2
Commencement
· · · · ·
Preliminary provisions
445
Primary purpose
Purpose
445A
Additional purpose
446
Application
447
Interpretation
447A
Transitional, savings, and related provisions
448
Act binds the Crown
Part 1
Award of interest
Interest to be awarded
449
Period for mandatory award of interest
450
Mandatory award of interest
451
Initial amount
452
Calculation of interest awarded under section 450
453
Internet site calculator
454
Calculation if judgment debt paid in full in 1 payment
455
Calculation if judgment debt paid in instalments
456
References to paying debt in full or paying instalments
457
Discretion if money judgment expressed in foreign currency
458
Discretion in special circumstances
Part 2
Where interest is not to be awarded
459
No interest to be awarded on penalty
460
Restrictions on award of interest for certain specified periods
461
No interest to be awarded for period contrary to provisions of another Act
462
Award of interest if contract makes relevant provision
463
Rules of interpretation for contractual provisions
464
Special provision for interest or lump sum relating to contracts entered into before commencement
Part 3
Supplementary and miscellaneous provisions
465
Court may not award interest unless procedural requirements complied with
466
Preservation of common law and equitable rights
467
Regulations
468
Transitional provisions for civil proceedings already commenced in senior court
469
Transitional provision for civil proceedings already commenced in District Court
470AA
Calculation of interest for amounts under other enactments
470
Amendments to other enactments
· · · · ·
Schedule 9AAA
Transitional, savings, and related provisions
Schedule 9AA
Calculation of interest for amounts under other enactments
Schedule 9
Consequential amendments to other enactments
: interest on money claims
Legislative history
The Parliament of New Zealand enacts as follows: