Section 310: Interest on claims
consolidated text (as at 2017, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
310. Interest on claims
(1) The amount of a claim may include interest up to the date of the adjudication or the commencement of the winding up—
(a) at such rate as may be specified or contained in any contract
that makes provision for the payment of interest on that amount;
or
(b) in the case of a judgment debt, at such rate as is payable on the
judgment debt.
(2) Where any surplus assets remain after the payment of all admitted
claims, interest shall be paid at the prescribed rate on those claims from the
date of adjudication or commencement of the winding up to the date on
which each claim is paid, and where the amount of the surplus assets is insufficient to pay interest in full on all claims, payment shall abate rateably
among all claims.
(3) Where any surplus assets remain after the payment of interest in accordance with subsection (2), interest shall be paid on all admitted claims
referred to in subsection (1) from the date of adjudication or the commencement of the winding up to the date on which the claim is paid at a rate equal
to the excess between the prescribed rate and the rate referred to in subsection (1) (a) or subsection (1) (b), as the case may be, and, where the amount
of the surplus assets is insufficient to pay interest in full on all claims, payment shall abate rateably among all claims.
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