This regulation sets a 0.5% per annum interest rate on deposits paid by landlords to tenants, lets the director require or calculate interest on compensation orders, and bars interest on certain fees, costs, and already-interest-bearing amounts.
Residential Tenancies Interest Regulation, M.R. 73/2010 The Residential Tenancies Act , C.C.S.M. c. R119 Regulation 73/2010 Registered June 24, 2010 bilingual version (HTML) Table of Contents Section 1 Definitions 2 Deposit interest rate 3 Interest on compensation orders 4 No interest awarded 5 Repeal 6 Coming into force Definitions 1 The following definitions apply in this regulation. "Act" means The Residential Tenancies Act . («  Loi  ») "compensation order" means an order made under (a) clause (a) of paragraph 5 of subsection 154(1) of the Act; (b) paragraph 1 of subsection 154(1.1) of the Act; or (c) paragraph 1 of subsection 154(1.2) of the Act. (« ordre d'indemnisation ») Deposit interest rate 2 The rate of interest to be paid by a landlord to a tenant on a deposit is 0.5% per annum. Interest on compensation orders 3(1) The director may require a person to pay interest on a compensation order: (a) on the amount awarded under the compensation order from the date determined by the director to the date of the order, at the prejudgment rate provided for under Part XIV of The Court of King's Bench Act ; and (b) on the amount owing under the compensation order for the period from the date of the order, at the postjudgment rate provided for under Part XIV of The Court of King's Bench Act . 3(2) The director may calculate interest referred to in clause (1)⁠(a) from whichever of the following dates the director determines is most appropriate in the circumstances: (a) the date of the contravention or breach; (b) the date a loss was suffered or an expense incurred; (c) the date of termination of the tenancy; (d) the date the person entitled to the compensation applied to the director to determine the claim. No interest awarded 4 The director shall not award interest (a) on late payment fees imposed by a landlord under subsection 69(4) of the Act; (b) on costs awarded under a compensation order; or (c) on any amount in respect of which interest is payable, other than under (i) clause (c) of paragraph 5 of subsection 154(1) of the Act, (ii) clause (b) of paragraph 2 of subsection 154(1.1) of the Act, or (iii) clause (b) of paragraph (2) of subsection 154(1.2) of the Act. Repeal 5 The Residential Tenancies Interest Regulation , M.R. 148/93, is repealed. Coming into force 6 This regulation comes into force on June 30, 2010.