The Division shall pay the members of the Association interest on the net amount of any retroactive pay. The interest is to be calculated from the dates which the monies would have been due, on a monthly basis, to the date of actual payment. Interest shall be calculated at the rate set by the Bank of Canada. Whenever interest earned on retroactive pay is less than $2.00 for any teacher per negotiated agreement, this interest amount will be paid to the Hanover Teachers' Association instead of each individual teacher.