QLDIn ForceAct
South-East Queensland Water (Distribution and Retail Restructuring) Act 2009
sec.53ATInterest
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### sec.53AT Interest
The distributor-retailer may charge interest on the overdue charge.
The rate of the interest can not be more than the rate of interest local governments may charge for late payment of rates.
The interest must be calculated—
on daily rests, and as compound interest; or
in another way the distributor-retailer decides, if an equal or lower amount will be obtained.
s 53AT ins 2010 No. 20 s 9
amd 2010 No. 53 s 145
(sec.53AT-ssec.1) The distributor-retailer may charge interest on the overdue charge.
(sec.53AT-ssec.2) The rate of the interest can not be more than the rate of interest local governments may charge for late payment of rates.
(sec.53AT-ssec.3) The interest must be calculated— on daily rests, and as compound interest; or in another way the distributor-retailer decides, if an equal or lower amount will be obtained.
- (a) on daily rests, and as compound interest; or
- (b) in another way the distributor-retailer decides, if an equal or lower amount will be obtained.