Hong Kong Ordinances

MASS TRANSIT RAILWAY ORDINANCE - SECT 25

Interest on compensation

(1) Subject to this section and to section 24(3), a sum of money payable as
compensation under this Ordinance bears interest as from the date on which the
sum becomes payable until payment of the sum, calculated at a rate equal to
the rate fixed by the Hong Kong Monetary Authority and known as the base rate,
less 100 basis points.

(2) At any time after agreement or determination by an arbitrator of an amount
of compensation to be paid under this Ordinance, the Government may, by notice
published in the Gazette, require the claimant to collect the amount within
the time and at the place specified in the notice, and in such case no
interest is payable under this Ordinance in respect of the period after the
expiry of the time so specified.

(3) No interest is payable under this Ordinance on any costs or remuneration
in connection with the arbitration proceedings.