15Payments of interest on moneys owing upon sale of Crown land

### 15 Payments of interest on moneys owing upon sale of Crown land > > (1)  There shall be payable on any money owing to the Minister upon a sale of Crown land interest at such rate as the Minister may, in any case, determine, the interest to be calculated at half-yearly rests or as may be specified in the agreement or security document. > > > (2)  In determining interest under [subsection (1)](#GS15@Gs1@EN) the Minister shall have regard to – > > > > > > (a) [*\[Section 15 Subsection (2) amended by No. 17 of 1996, Applied:19 Mar 2002\]*](/view/html/inforce/2002-03-19/act-1996-017#AT@EN) the long term bond rate on Commonwealth securities; and > > > > > > > (b) interest rates payable to lending institutions on mortgage in respect of land; and > > > > > > > (c) any circumstances of the case which the Minister deems relevant. > > > (3)  Notwithstanding any other provision of this section the rate of interest payable under this section shall not be less than – > > > > > > (a) 4 per cent per annum in the case of rural land; and > > > > > > > (b) 5 per cent per annum in the case of any other land.