Document ID: chunk:federal_register_of_legislation:C2004A01154:clause:1_83c
Version: federal_register_of_legislation:C2004A01154
Segment Type: clause
Provision Reference: sch 1 cl 83C
Character Range: 12711–13264

83C  Late payment penalty

 (1) If a private health insurance levy remains wholly or partly unpaid by a registered health benefits organization after it becomes due and payable, the organization is liable to pay a late payment penalty under this section.

 (2) The late payment penalty is calculated:
 (a) at the prescribed rate; and
 (b) on the unpaid amount of the levy; and
 (c) for the period:
 (i) starting when the levy becomes due and payable; and
 (ii) ending when the levy, and the penalty payable under this section, have been paid in full.