COM96050 - Payments: group payment arrangements: interest

Payments made by the Nominated Company (Word 28KB) on behalf of the participating companies (Word 28KB) are deemed to have been made by those companies in the amounts finally apportioned to them, on the dates they were made by the Nominated Company.

This establishes the interest position for each of the participating companies. Interest will be charged and / or paid accordingly.

A company required to make Quarterly Instalment Payments(QIPs) (Word 42KB) may be liable to Debit Interest (Word 31KB) and / or entitled to Credit Interest (Word 34KB) in respect of payments made. A non QIP company may be entitled to Credit Interest.

For more information see sections 'Interest' (COM80000 onwards) and 'Quarterly Instalment Payments' (COM95000 onwards).