307‑5 Late payment penalty (1) If a *private health insurance levy remains wholly or partly unpaid by a person after it becomes due and payable, the person is liable to pay a late payment penalty under this section. (2) The *late payment penalty is calculated: (a) at the rate specified in the Private Health Insurance (Levy Administration) Rules (which must not be higher than 15%); and (b) on the unpaid amount of the levy; and (c) for the period: (i) starting when the levy becomes due and payable; and (ii) ending when the levy, and the penalty payable under this section, have been paid in full.

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Section 307‑5 Late payment penalty - Private Health Insurance Act 2007 - 307‑5 Late payment penalty — Zoe