Report No. 76
4.14. History of the law in England.-
In England, the first Arbitration Act of 1889 did not contain any provision for interest on awards.1 In the (English) Arbitration Act, 1934, section 11 was incorporated, providing for payment of interest on awards "as from the date of the award". The present provision on the subject is section 20 of the Arbitration Act, 1950, to which we shall refer later2.
1. Chandris v. Isbrandt Sen Moller Co., (1950) 2 All ER 618 (CA); also see Timber Shipping Co. S.A. v. London Overseas Freighters Ltd., (1971) 2 WLR 1360 (HL) holding that the arbitrator cannot alter the rate of interest prescribed for judgement debts.
2. See para. 4.25, infra.