(1) Interest is
payable on an amount that is payable to the Law Society under this Part for
the period beginning on the day after the day on which the amount is due and
ending on the day on which the amount is paid.
(2) The rate of
interest for the period for which interest is payable under subsection (1) is
equal to that prescribed for that period under the
Civil Judgments Enforcement Act 2004 section 8(1)(a).
(3) The Law Society
may waive payment of the interest on amounts payable to the Law Society in
whole or in part.