Amendment status not verified — confirm the current text below against the official source.
lntere ( 1) On any debt or sum certain whereon in- terest is not n~~erved or agreed for, and which Is overdue when the debtor is adjudged an insolvent, and which Is provable under this Act. the creditor may prove for interest at a rate not exceedmg six pel> centum per annum,- (a) if the debt or sum is payable by VIrtuE' of a written instrument at a certain time, from the time when such debt or sum was payable to the date of such adjudicatiOn, or, (b) 1f the debt or sum Is payable otherwise, from the time when a demand m wnting has been made giving the deb- tor notice that mterest w1ll be cla1med from the date of the demand until the time of payment to the date of such adjudi- ration. (2) Where a debt wh1ch has been proved under th1s Act includes mterest or any pecumary consideration in lieu of m- lerest, the mtcrest o1· comnderatwn shall, for the purposes of dividend, be calculated at a rate not exceeding six per centum per annum, without preJudice to the right of a creditor to receive out of the debtor's estate any higher rate of mterest to which he may be entitled after all the debts proved have been paid m full.