Western Australian Numbered Acts

WORKERS COMPENSATION AND INJURY MANAGEMENT ACT 2023 (NO. 21 OF 2023) - SECT 360

360 .         Interest on unpaid amount of agreed sum

        (1)         An arbitrator may order, in accordance with the regulations, that interest is payable on so much of the amount of any sum agreed to be paid under this Act as is from time to time unpaid.

        (2)         Interest payable under subsection (1) in respect of any sum so agreed to be paid —

            (a)         must be calculated as from the day provided by the agreement as the day on which the sum is due to be paid or, if the agreement does not so provide, the day that is 21 days after the day on which the agreement was made; and

            (b)         must be calculated at a rate prescribed by or determined under the regulations; and

            (c)         forms part of the sum agreed to be paid, but not so as to require the payment of interest on interest.