27Late payment penalty for casino licence fee

27 Late payment penalty for casino licence fee (1) This section applies if any amount of a casino licence fee that the casino licensee is liable to pay under a casino licence fee determination is not paid within 14 days after the day by which it must be paid. (2) The casino licensee is liable to a daily penalty on the unpaid amount of the casino licence fee for each day after the 14th day that the fee remains unpaid. (3) The penalty rate is 20% per year. (4) The amount of penalty payable under subsection (2) compounds at 3- monthly intervals. (5) The commission may waive all or part of a penalty that the casino licensee is liable to pay under subsection (2).