UNIT TITLE SCHEMES (MANAGEMENT MODULES) REGULATIONS 2009
43Interest on late payment
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43 Interest on late payment (1) The body corporate may charge interest for the late payment of contributions and special levies.
Schedule 3 Management module 3 – small scheme Unit Title Schemes (Management Modules) Regulations 2009 70 (2) The interest rate is: (a) an amount, decided by the body corporate, not more than the rate fixed from time to time for section 85 of the Supreme Court Act 1979; or (b) if the body corporate does not decide an amount – the rate fixed from time to time for section 85 of the Supreme Court Act 1979. (3) The body corporate may decide to waive the interest in a particular case.