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Commentary

78.4 Interest

BANKRUPTCY AND INSOLVENCY (INDIVIDUAL INSOLVENCY) vol 3(2)
| Commentary

78.4 Interest

| Commentary

78.4 Interest1

If the amount claimed in the demand includes:

  1. 78.4.1

        any charge by way of interest of which notice had not previously been delivered to the debtor as a liability of the debtor's; or

  2. 78.4.2

        any other charge accruing from time to time,

the amount or rate of the charge must be separately identified, and the grounds on which payment of it is claimed must be stated.

The amount claimed for such charges must be limited to that which has accrued at the date of the demand.

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