Clause 12

The Sixth Schedule to the principal Act is repealed and the following Schedule substituted therefor:“SIXTH SCHEDULESections 36(1) and (4) and 47(1)rates of interestPeriodRate of Interest1.From the date of death to the date of payment of the estate duty or the expiration of 6 months from the date of death, whichever first occurs3% per year on the amount of the unpaid estate duty except that the Commissioner shall reduce the rate to zero if he is satisfied that the estate duty affidavit received within 6 months after the date of death is complete and without omission of assets.2.If any part of the estate duty is not paid within 6 months from the date of death, from the expiration of those 6 months to the date of payment of that part of the estate duty or the expiration of 18 months from the date of death, whichever first occurs6% per year on the amount of the unpaid estate duty except that the Commissioner shall reduce the rate to 3% per year if he is satisfied that there was reasonable cause for the delay in payment or furnishing information to the Commissioner.3.If any part of the estate duty is not paid within 18 months from the date of death, from the expiration of those 18 months to the date of payment of that part of the estate duty12% per year on the amount of the unpaid estate duty except that the Commissioner shall reduce the rate to 6% per year if he is satisfied that there was reasonable cause for the delay in payment or furnishing information to the Commissioner.4.Where the death occurred before 1st January 1965, from the date of death to the date of payment of the estate duty4% per year on the amount of the unpaid estate duty.”.