Practice Note CM 16

PA Keane, Chief Justice 01 August 2011

This Practice Note is REVOKED

On 25 October 2016, as part of the National Court Framework (NCF) reforms, all existing practice notes were revoked and 26 new national practice notes were issued, effective immediately.

To assist Court users to understand these practice note changes, the Court has prepared:

Pre-judgment interest

RTF version (17.3 kb)

1.  Section 51A(1)(a) of the Federal Court of Australia Act 1976 (Cth) provides for the making of orders for the inclusion of interest in judgments.

2.  Practitioners and litigants should expect that where, pursuant to section 51A(1)(a), interest in respect of a pre-judgment period is to be included in a judgment, the Court will have regard to the following rates, being rates agreed upon by the Discount and Interest Rate Harmonisation Committee established following a referral by the Council of Chief Justices of Australia and New Zealand:

(a)  in respect of the period from 1 January to 30 June in any year – the rate that is 4% above the cash rate last published by the Reserve Bank of Australia before that period commenced, and

(b)  in respect of the period from 1 July to 31 December in any year – the rate that is 4% above the cash rate last published by the Reserve Bank of Australia before that period commenced.