Interest on charges

Current

(1)

For the purposes of section 48(2) of the Act, the prescribed rate is—

(a)

10% of the charges that are unpaid after the third month;

and

(b)

1% of the charges that are unpaid at the expiration of each subsequent month.

(2)

For the purposes of section 48(3) of the Act, the prescribed period is 3 months after the date on which the charges became payable.

Research tools for this sectionSubscription

The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.