Section 15 — Interest stops on redemption

Regardless of any demand for payment of the principal sum, all the interest on the principal sum payable on the security stop immediately after —

(a)the maturity date of a security issued under this Act;

(b)the redemption date in the duly served notice of intention under section 12(b)(i); or

(c)the date of early redemption in accordance with section 13, whichever is the earliest.