995
In forceInterest on overdue drainage rates
995 Interest on overdue drainage rates
(1)
An overdue drainage rate under section 993 bears interest at the annual rate, decided by the chief executive, of not more than—
(a)
15%; or
(b)
if another percentage is prescribed under a regulation—the other percentage.
(2)
The interest must be calculated as simple interest.
(3)
In this section—overdue drainage rate means the amount of the rate that is not paid when it becomes payable.
Regulations
This provision refers to the regulations (a regulation
). Made under this Act:
- Water Plan (Baffle Creek Basin) 2010 · Regulation
- Water Plan (Barron) 2023 · Regulation
- Water Plan (Border Rivers and Moonie) 2019 · Regulation
21 more instruments made under this Act are listed on the Act’s overview.
This Act’s bill:Explanatory memorandum
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