12
In forceInterest on charges
12 Interest on charges
(1)
For the purposes of section 46(2) of the Act, the prescribed rate is—
(a)
5% of the charges that are unpaid after the first month;
and
(b)
1% of the charges that are unpaid at the expiration of each subsequent month.
(2)
For the purposes of section 46(3) of the Act, the prescribed period is 1 month after the date on which the charges became payable.
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