New South Wales Consolidated Regulations
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LEGAL PROFESSION UNIFORM GENERAL RULES 2015 - REG 75
Interest on unpaid legal costs
75 Interest on unpaid legal costs
(1) For the purposes of section 195 of the
Uniform Law, the rate of interest is the rate that is equal to the Cash Rate
Target as at the relevant date, increased by 2 percentage points.
(2) In this
rule--
"Cash Rate Target" means the percentage (or maximum percentage) specified by
the Reserve Bank of Australia as the Cash Rate Target.
"relevant date" means the date the bill was issued by the law practice
concerned.
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