Merchant Shipping (Salvage and Wreck) Act, 1993
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Interest on rewards.
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37.—(1) The arbitrator or judge of the arbitral or judicial proceedings concerned may, if considered fair and just to do so in respect of the salvage operations—
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(a) award interest on the payment at a rate to be fixed by the arbitrator or judge, as the case may be,
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(b) award interest on any part of a payment already made in respect of such period prior to payment as is considered appropriate in the circumstances.
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(2) In this section “interest” includes compound interest.
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