Hong Kong Regulations

WATER POLLUTION CONTROL (SEWERAGE) REGULATION - SECT 22

Interest

(Past version on 01/07/1997).
(Past version on 30/06/1997).

For the validation of interest payments and application provisions relating to
the amendments made by 6 of 2001, see section 13 of 6 of 2001.

(1) The Lands Tribunal may direct that interest be paid on compensation (but
not on costs)- (6 of 2001 s. 8)

   (a)  in the case of compensation payable under item 1 of Part I of Schedule
        1, as if the claim were made under the Lands Resumption Ordinance (
        Cap 124) for land resumed under that Ordinance; and (29 of 1998 s. 76)

   (b)  in any other case, from a date and for a period that it considers
        appropriate and, subject to subsection (2), at such rate as it may
        fix. (6 of 2001 s. 8)

(2) The rate of interest fixed under subsection (1)(b)-

   (a)  in respect of a working day must not be lower than the lowest of the
        interest rates paid on deposits at 24 hours' call by note-issuing 
        banks at the close of business on that day; and

   (b)  in respect of a non-working day must not be lower than the lowest of
        the interest rates paid on deposits at 24 hours' call by
        note-issuing banks at the close of business on the last working day
        before that day. (6 of 2001 s. 8)

(3) In the section, "non-working day" (非工作日), "note-issuing bank" (
發鈔銀行) and "working day" (工作日) have the meanings assigned to them
respectively by paragraph 8(3) of the Second Schedule to the Ordinance.

(6 of 2001 s. 8) (Enacted 1994)

"non-working day" (非工作日), "note-issuing bank" (發鈔銀行) and
"working day" (工作 日)