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The Hong Kong (Overseas Public Servants) (Continuing Service: Compensation) Order 1996

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Interest

11.—(1) Where compensation is paid in instalments, interest at the rate of five per cent per annum, based on the previously assessed balance of compensation due, shall be paid at the time of the next instalment. Where a recalculation of the entitlement to compensation is made on an anniversary of the appointed day, interest shall become payable on the reassessed balance from the date when the recalculation is made.

(2) Where a recalculation is made on the occasion of an entitled officer’s retirement, interest shall be paid at the time the next instalment, or balance, of compensation is to be paid, calculated as follows—

  • five per cent per annum on the balance of compensation due at the previous anniversary of the appointed day for the period between the anniversary of the appointed day and the day of retirement

  • plus

  • five per cent per annum on the balance of compensation due on recalculation at the date of retirement from the date of retirement to the next anniversary of the appointed day.

(3) In the event that the first or any other instalment, or the balance, of any compensation is not paid within three months of the due day, interest shall be paid on the amount of compensation then due at the rate of five per cent per annum for each completed month of delay:

  • Provided that no such interest shall be payable in respect of any sum where the failure to make a payment in respect of that sum is a consequence of the failure of the officer concerned or his dependants or personal representatives, or any overseas authority, to provide the Secretary of State with information necessary to enable him to make such payment.

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