Section 19A Power of arbitrator to award interest.F1C1
United Kingdom
Unless a contrary intention is expressed therein, every arbitration agreement shall, where such a provision is applicable to the reference, be deemed to contain a provision that the arbitrator or umpire may, if he thinks fit, award simple interest at such rate as he thinks fit—
on any sum which is the subject of the reference but which is paid before the award, for such period ending not later than the date of the payment as he thinks fit; and
on any sum which he awards, for such period ending not later than the date of the award as he thinks fit.
The power to award interest conferred on an arbitrator or umpire by subsection (1) above is without prejudice to any other power of an arbitrator or umpire to award interest.
Annotations
Textual amendments
- F1
S. 19A inserted by Administration of Justice Act 1982 (c. 53, SIF 37), s. 15, Sch. 1 Pt. IV
Modifications
- C1
S. 19A applied (1.5.1996) by S.I. 1996/1022, art. 32
Notes on Part I
Textual amendments
- F1
Pt. I (ss. 1-34) repealed (31.1.1997) by 1996 c. 23, s. 107(2), Sch.4; S.I. 1996/3146, art. 3 (with transitional provisions in art. 4, Sch. 2)
Modifications
- C1
Pt. I modified by Administration of Justice Act 1970 (c. 31, SIF 37), s. 4, Sch. 3; excluded by Employment Protection Act 1975 (c. 71), ss. 1, 3(5), Sch. 1 Pt. II para. 26
- C2
Pt. I (ss. 1–34) excluded by Arbitration Act 1979 (c. 42, SIF 5), s. 7(3)
- C3
Pt. I (ss. 1-34) excluded (16.10.1992) by Trade Union and Labour Relations (Consolidation) Act 1992 (c. 52), ss. 212(5), 302.
Pt. I (ss. 1-34) excluded (16.10.1992) by Trade Union and Labour Relations (Consolidation) Act 1992 (c. 52), ss. 263(6), 302.