(1)  Unless otherwise agreed by the parties or provided for under section 34 or 35 , the court or a judge, when making a judgment requiring the payment of an amount of money, may order that the amount, or part of the amount, carries interest at rate not exceeding the prescribed rate for the whole or any part of the period commencing on the day after the day on which the cause of action arose and ending on the day on which the judgment is entered.

(2)  Subsection (1) does not –

(a) authorise the giving of interest on interest; or

(b) apply in relation to any amount on which interest is payable as of right whether because of an agreement or otherwise; or

(c) affect the damages recoverable for the dishonour of a bill of exchange; or

(d) limit the operation of any other enactment or rule of law providing for the award of interest.

(3)  For the purposes of subsection (1) , the prescribed rate is the rate per centum per annum that is from time to time specified in the Rules of Court.