Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A court must not, in a proceeding to which this Part applies, order the payment of interest on personal injury damages for:
(a) non - economic loss; or
(b) gratuitous attendant care services for the plaintiff; or
(c) loss of the plaintiff's capacity to provide gratuitous attendant care services to other persons.
(2) If, in a proceeding to which this Part applies, a court is satisfied that interest is payable on personal injury damages of another kind, the rate of interest to be used in working out the interest is:
(a) the rate of interest prescribed by the regulations; or
(b) if no rate is prescribed--the 10 - year benchmark bond rate on the day on which the court determines the personal injury damages.
(3) This section does not affect the payment of interest on a debt under a judgment or order of a court.
(4) In this section:
"10-year benchmark bond rate" , on a day, means:
(a) if the day occurs on or after 1 March in a particular year and before 1 September in that year--the Commonwealth Government 10 - year benchmark bond rate:
(i) as published by the Reserve Bank of Australia in the Reserve Bank of Australia Bulletin (however described); and
(ii) applying on the first business day of January in that year; or
(b) otherwise--the Commonwealth Government 10 - year benchmark bond rate, as so published, applying on the first business day of July in the preceding year.
"business day" means a day other than a Saturday, a Sunday or a public or bank holiday in any State, the Australian Capital Territory or the Northern Territory.