Document ID: chunk:federal_register_of_legislation:C2006C00126:clause:2_97p
Version: federal_register_of_legislation:C2006C00126
Segment Type: clause
Provision Reference: sch 2 cl 97P
Character Range: 121671–122387

97P  Penalty for late payment of premium or regulatory contribution

  If an amount of premium or regulatory contribution payable by an Entity or Commonwealth authority is not paid by the Entity or authority:
 (a) by 31 July in the financial year to which the premium or regulatory contribution relates; or
 (b) within 30 days after the day on which notice of the determination of the premium or regulatory contribution is issued;
whichever is the later, interest is payable on the amount, at such rate as is from time to time specified by the Minister by notice in the Gazette, in respect of each day on which the amount is not so paid. However, interest is not payable under this section if it is less than $100.