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Supreme Court Civil Procedure Act 1932 (No. 58 of 1932)
|Requested: 7 Mar 2014|
|Consolidated as at: 21 Feb 2012|
34. Recovery of interest on debts
(1) Upon all debts or sums certain recovered in any action, or on the trial of and issue of fact, the jury, or (in cases where there is no jury) the judge, or (in the case of an assessment of damages) the jury, judge, officer of the court, judge of an inferior court of civil jurisdiction, or referee making the assessment, may allow interest to the party recovering such debt or sum at the prescribed rate
(a) from the time when such debt or sum was payable if payable by virtue of some written instrument and at a date or time certain; or
(b) if payable otherwise, then from the time when demand of payment was made in writing, giving notice to the debtor that interest would be claimed from the date of such demand or any later date.
(2) 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.