Table 15

 

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Calculation of Interest on

Arrears of Maintenance that accrued on and after 1 May 2005

Payment(s) 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)

Date

Date

Outstanding maintenance since the last calculation (those accrued on and after date only)

No. of days since last calculation

Effective Judgment Rate during the last period

Interest amount

Interest in arrears ordered by court

Surcharge

Costs

Maintenance

Amount of maintenance in arrears payable

Interest

Surcharge

Costs

Maintenance accrued ON and AFTER (date)

Maintenance accrued BEFORE (date)

Amount of maintenance in arrears payable

Interest

Surcharge

Costs

Maintenance accrued ON and AFTER (date)

Maintenance accrued BEFORE (date)

 

Amount of   maintenance in arrears payable

(a)

(a)

(b)

 

(c)

(d)

(e)

(f)

(g)

(h)

(i)

(j)

(k)

(l)

(m)

(n)

(o)

(p)

(q)

(r)

(s)

(t)

(u)

(v)

(w)

(x)

(y)

 

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[Note 1]

 

 

 

[Note 2]

[Note 3]

 

 

 

 

[Note 4]

[Note 5]

[Note 6]

[Note 7]

[Note 8]

[Note 9]

 

[Note 10]

[Note 11]

[Note 12]

[Note 13]

[Note 14]

[Note 15]

[Note 16]

[Note 17]

1.9.04

1.8.05

0

N/A

N/A

N/A

26

1,000

1,000

2,000

1,000

26

1,000

1,000

2,000

0

1,000

0

0

26

1,000

1,000

2,000

0

1,000

0

10.9.04

10.8.05

2,000

9

8.25%

4

0

0

0

0

0

30

1,000

1,000

2,000

0

1,000

3,000

3,000

0

0

0

0

1,030

1,000

0

1.10.04

1.9.05

1,030

22

8.25%

5

0

1,000

0

2,000

1,000

5

1,000

0

3,030

0

2,000

6,035

6,035

0

0

0

0

0

0

0

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[Note 1]  b = entry v of the previous row (if any)

[Note 2]  e = b x c x d / number of days in the year

[Note 3]  f = interest ordered by the Court in enforcement proceedings initiated by the maintenance payee

[Note 4]  k = entry s of the previous row (if any) + entry e of the current row + entry f of the current row

[Note 5]  l = entry t of the previous row (if any) + entry g of the current row

[Note 6]  m = entry u of the previous row (if any) + entry h of the current row

[Note 7]  If the date of the current row is ON or AFTER the commencement date of the ordinance,

            n = entry v of the previous row (if any) + entry i of the current row;

         otherwise,

            n = 0        

[Note 8]  If the date of the current row is ON or AFTER the commencement date of the ordinance,

            o = entry w of the previous row (if any);

         otherwise,

            o = entry w of the previous row (if any) + entry i of the current row   

 

[Note 9]  p = entry x of the previous row (if any) + entry j of the current row

[Note 10]  r = entry y of the previous row (if any) + entry q of the current row

[Note11]  s (interest) = the first item to be discharged in the priority call on payments made by the maintenance payer

 

If r > or = k, then s = 0

If k > r > 0, then s = k - r

If r = 0, then s = k

 

[Note 12]  t (surcharge) = the second item to be discharged in the priority call on payments made by the maintenance payer

 

If r > or = (k + l) , then t = 0

If r < (k + l) and s = 0 , then t = l - (r - k)

If s > 0, then t = l

If r = 0, then t = l

 

[Note 13]  u (costs) = the third item to be discharged in the priority call on payments made by the maintenance payer

 

If r > or = (k + l + m) , then u = 0

If r < (k + l + m) and t = 0 , then u = m - (r - k - l)

If t > 0, then u = m

If r = 0, then u = m

 

[Note 14]  v (outstanding maintenance accrued ON or AFTER commencement date of the ordinance) = the fourth item to be discharged in the priority call on payments made by the maintenance payer

 

Only this item is subject to interest.

If r > or = (k + l + m + n) , then v = 0

If r < (k + l + m + n) and u = 0 , then v = n - (r - k - l - m)

If u > 0, then v = n

If r = 0, then v = n

 

[Note 15]  w (outstanding maintenance accrued BEFORE commencement date of the ordinance) = the fifth item to be discharged in the priority call on payments made by the maintenance payer

 

If r > or = (k + l + m + n + o) , then w = 0

If r < (k + l + m + n + o) and v = 0 , then w = o - (r - k - l - m - n)

If v > 0, then w = o

If r = 0, then w = o

 

 

 

 

[Note 16] x (Amount of maintenance in arrears payable) = the sixth item to be discharged in the priority call on payments made by the maintenance payer

 

If r > or = (k + l + m + n + o + p) , then x = 0

If r < (k + l + m + n + o + p) and w = 0 , then x = p - (r - k - l - m - n - o)

If w > 0, then x = p

If r = 0, then x = p

 

[Note 17] y (Remaining Balance)

 

 

If x = 0, then y = r - (k + l + m + n + o + p)

If x > 0, then y = 0