11
CurrentInterest rate prescribed (Act s. 36ZJ(3))
Part 2Emergency Services Levy
11 Interest rate prescribed (Act s. 36ZJ(3))
For the purposes of section 36ZJ(3) of the Act, the rate of interest that applies to an amount that remains unpaid after it becomes due and payable under an ESL agreement is —
(a)
the rate of interest that applies under subsection (2) of section 36X of the Act at the time the amount becomes due and payable; or
(b)
if no rate of interest applies under that subsection at that time, the rate of interest that most recently applied under that subsection before that time.
[Regulation 11 inserted: Gazette 16 May 2003 p. 1701.]
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