When major bank levy is due and payable
115-10 When major bank levy is due and payable
An amount of levy under the Major Bank Levy Act 2017 that an *ADI is liable to pay for a *quarter is due and payable on the first day:
that occurs on or after the *MBL reporting day for the quarter; and
on which the last instalment that the ADI is liable to pay within an *instalment quarter is due under Subdivision 45‑B.
If that amount remains unpaid after it is due and payable, the *ADI is liable to pay *general interest charge on the unpaid amount for each day in the period that:
started at the beginning of the day by which the amount was due to be paid; and
finishes at the end of the last day at the end of which either of the following remains unpaid:
the amount;
general interest charge on any of the amount.
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