73Penalty for late payment

73 Penalty for late payment

[Section 73 Repealed by No. 84 of 1999, s. 13, Applied:01 Jul 2000]

(1)  If a non-prescribed Government Business Enterprise or a non-prescribed subsidiary does not pay the whole or any part of the amount it is directed to pay under section 72(3) by the day on which it is due, the amount unpaid bears interest at 1·5 times the prescribed rate from that day to and including the day on which it is paid.

(2)  A non-prescribed Government Business Enterprise or a non-prescribed subsidiary is not liable to pay interest under subsection (1) if the Treasurer determines otherwise.