45A.    Calculation of interest payable under this Act

 

Where-

 

(a)     any interest is payable under the provisions of section 36, 39 or 45;

 

(b)     the rate at which such interest is payable has with effect from any date been altered; and

 

(c)     such interest is payable in respect of any period or any number of months or any part of a month which commenced before the said date,

 

the interest to be determined in respect of that portion of such period which ended immediately before the said date or in respect of any such months or part of a month which commenced before the said date shall be calculated as if the said rate had not been so altered.

[Section 45A inserted by section 5 of Act 61 of 1993]

[Section 45A to be repealed by section 271 of Act 28 of 2011 with effect from a date determined by the President by proclamation in the Gazette]