Reduction in interest on unpaid legal costs
02/07/2019
Practice management
At its meeting on 2 July 2019, the Reserve Bank Board decided to lower the cash rate target by 0.25% to 1.00%. Accordingly, the rate of interest on unpaid legal costs, prescribed by s 195 of the Legal Profession Uniform Law (NSW) and Rule 75 of the Legal Profession Uniform General Rules 2015(NSW), is 3.00%.
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