Table 1
Date |
Calculation of Interest on Maintenance Arrears that Accrued on and after 1 May 2005 |
Maintenance Due |
Outstanding Item(s) BEFORE Payment |
Payment made by the Payer |
Total Fund available to meet obligations |
Outstanding Item(s) AFTER Payment |
Remaining Balance (if any) |
|||||||
|
Outstanding maintenance since the last calculation |
No. of days since last calculation |
Effective Judgment Rate during the last period |
Interest amount |
Interest |
Maintenance ON AND AFTER 1 May 05 |
Maintenance BEFORE 1 May 05 |
Interest |
Maintenance ON AND AFTER 1 May 05 |
Maintenance BEFORE 1 May 05 |
|||||
|
(a) |
(b) |
(c) |
(d) |
(e) |
(f) |
(g) |
(h) |
(i) |
(j) |
(k) |
(l) |
(m) |
(n) |
(o) |
|
|
[Note 1] |
|
|
[Note 2] |
|
[Note 3] |
[Note 4] |
[Note 5] |
|
[Note 6] |
[Note 7] |
[Note 8] |
[Note 9] |
[Note 10] |
|
1.2.05 |
0 |
0 |
N/A |
0 |
2,000 |
0 |
0 |
2,000 |
0 |
0 |
0 |
0 |
2,000 |
0 |
|
14.2.05 |
0 |
0 |
8.069% |
0 |
0 |
0 |
0 |
2,000 |
1,500 |
1,500 |
0 |
0 |
500 |
0 |
|
1.3.05 |
0 |
0 |
8.069% |
0 |
2,000 |
0 |
0 |
2,500 |
0 |
0 |
0 |
0 |
2,500 |
0 |
|
1.4.05 |
0 |
0 |
8.069% |
0 |
2,000 |
0 |
0 |
4,500 |
1,000 |
1,000 |
0 |
0 |
3,500 |
0 |
|
30.4.05 |
0 |
0 |
8.069% |
0 |
0 |
0 |
0 |
3,500 |
0 |
0 |
0 |
0 |
3,500 |
0 |
[Note 1] b = entry m of the previous row (if any)
[Note 2] e = b x c x d / number of days in the year
[Note 3] g = entry l of the previous row (if any) + entry e of the current row
[Note 4] If the date of the current row is ON and AFTER the commencement date of the ordinance
h = entry m of the previous row (if any) + entry f of the current row
Otherwise,
h = 0
[Note 5] If the date of the current row is ON and AFTER the commencement date of the ordinance
i = entry n of the previous row (if any)
Otherwise,
i = entry n of the previous row (if any) + entry f of the current row
[Note 6] k = entry o of the previous row (if any) + entry j of the current row
[Note 7] l (interest) = the first item to be discharged in the priority call on payments made by the maintenance payer
If g > k > 0, then l = g – k
If k = 0, then l = g
[Note 8] m (outstanding maintenance accrued ON and AFTER commencement date of the ordinance) = in this scenario the second item to be discharged in the priority call on payments made by the maintenance payer
If k > or = (g + h) , then m = 0
If k < (g + h) and l = 0 , then m = h - (k - g)
If k < (g + h) and l > 0 , then m = h
If k = 0, then m = h
[Note 9] n (outstanding maintenance accrued BEFORE commencement date of the ordinance) = in this scenario the third item to be discharged in the priority call on payments made by the maintenance payer
If k > or = (g + h + i) , then n = 0
If k < (g + h + i) and m = 0 , then n = i - (k - g - h)
If k < (g + h + i) and m > 0 , then n = i
If k = 0, then n = i
[Note 10] o (Remaining Balance)
If n = 0, then o = k – (g + h + i)
If n > 0, then o = 0