Australian Capital Territory Numbered Acts Australian Capital Territory Numbered Acts(1) A law practice may charge interest on unpaid legal costs if the costs are unpaid for 30 days or longer after the day the practice gave a bill for the costs in accordance with this part.
(2) A law practice may also charge interest on unpaid legal costs in accordance with a costs agreement.
(3) A law practice must not charge interest on unpaid legal costs under subsection (1) or (2) unless the bill for the costs states—
(a) that interest is payable on unpaid costs; and
(b) the rate of interest; and
(c) for interest payable in accordance with a costs agreement—that the interest is payable under the agreement.
(4) Interest charged under subsection (1) or (2) must not exceed—
(a) if a rate is prescribed by regulation—that rate; or
(b) if a rate is not prescribed by regulation—the rate prescribed by rules under the Court Procedures Act 2004 for interest on judgments.