South Australian Consolidated Regulations South Australian Consolidated Regulations7—Action on non-compliance with order etc—prescribed rate of
interest (sections 34, 36 and 37 of Act)
(1) For the purposes
of sections 34(5)(a), 36(5)(a) and 37(8)(a) of the Act, the prescribed rate of
interest per annum on an unpaid amount will be the prime bank rate for any
financial year for which the amount remains unpaid.
(2) In this
regulation—
"prime bank rate" for a particular financial year means the corporate loan
reference rate applied by the Commonwealth Bank of Australia for corporate
lending on the first trading day of the Bank in that financial year.