South Australian Consolidated Regulations South Australian Consolidated Regulations9—Prescribed rate of interest—sections 25, 27 and 28
(1) For the purposes
of sections 25(5)(a), 27(5)(a) and 28(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.