403Late payment fee

403  Late payment fee  (1) If the rules specify the time when a cost‑recovery charge (the basic charge) is due and payable, the rules may also specify a fee (a late payment fee) that is due and payable if the basic charge is not paid at or before that time.  (2) Without limiting subsection (1), a late payment fee may relate to each day or part of a day that the basic charge remains unpaid after becoming due and payable.  (3) The rules may prescribe one or more persons who are liable to pay a late payment fee in relation to a cost‑recovery charge referred to in paragraph (a) or (b) of the definition of cost‑recovery charge in section 12.