(1)In any proceedings tried in any court of record for the recovery of any debt or damages, the court may, if it thinks fit, order that there shall be included in the sum for which judgment is given interest at such rate as it thinks fit on the whole or any part of the debt or damages for the whole or any part of the period between the date when the cause of action arose and the date of the judgment :
Provided that nothing in this section—
(a)shall authorise the giving of interest upon interest ; or
(b)shall apply in relation to any debt upon which interest is payable as of right whether by virtue of any agreement or otherwise ; or
(c)shall affect the damages recoverable for the dishonour of a bill of exchange.
(2)Sections twenty-eight and twenty-nine of the [3 & 4 Will. 4. c. 42.] Civil Procedure Act, 1833, shall cease to have effect.