South Australian Current Regulations South Australian Current Regulations72—Prescribed rate (clause 59)
(1) For the purposes
of Schedule 9 clause 59(4) of the Act, the amount recoverable from
the employer will be increased by interest on the amount at the prime bank
rate for the financial year in which the employer receives notification of a
payment under that clause, compounded on a monthly basis for each complete
month that has elapsed between the date of the notification and the date of
payment.
(2) For the purposes
of Schedule 9 clause 59(11) of the Act, if a compensating authority
has recovered an amount to which the compensating authority is not entitled,
the amount to be repaid to the Corporation will be increased by interest on
the amount at the prime bank rate for the financial year in which the amount
in respect of which interest is payable is paid to the Corporation, compounded
on a monthly basis for each complete month that has elapsed between the date
of the determination of the Corporation and the date of payment.