VICIn ForceAct
Offshore Petroleum and Greenhouse Gas Storage Act 2010
697Late payment penalty
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697 Late payment penalty
(1) This section applies if a fee or royalty payable by a person under Division 1, 2, 3 or 4 remains unpaid after the time when it became due for payment.
(2) The person is liable to pay a penalty accruing from the time the fee became due for payment until it is paid in full.
(3) The penalty is calculated at the rate of 0·333333% per day on the amount of the fee remaining unpaid.
(4) A penalty under this section is to be known as a late payment penalty.