174Late payment fee

174 Late payment fee

(1) If the regulations specify the time when a fee (the basic fee) is due and payable, the regulations may also specify a fee (a late payment fee) that is due and payable if the basic fee is not paid at or before that time. (2) Without limiting subsection (1), the late payment fee may relate to each day or part of a day that the basic fee remains unpaid after becoming due and payable.