74.0.1. For the purposes of this Act, subject to any contrary provision, the word “interest” used alone refers to the interest compounded annually at the rates given for each period in Schedule II.
The rates of interest in Schedule II are determined according to the rules and procedures determined by regulation for the period indicated and the rates of return on certain categories of amounts referred to in section 134 and designated by the regulation. The rates of interest in Schedule III are determined according to the rules and procedures determined by regulation for the period indicated and an external index designated by the regulation. The Chair of the Conseil du trésor publishes in the Gazette officielle du Québec the rates of interest determined under those regulations, and the amendments to the schedules resulting from the new rates are integrated into the Compilation of Québec Laws and Regulations.
The applicable rates determined in Schedule II are the rates determined for each period according to the period of application of those rates provided for in the relevant sections. The applicable rate determined in Schedule III is the rate in force on the day that precedes the date the period of application of that rate begins as provided in the relevant sections, unless otherwise provided.
2006, c. 55, s. 10; 2013, c. 9, s. 21.