Clause 107

Where, pursuant to an application by a subsidiary proprietor or a mortgagee in possession, a Board considers that the management corporation or subsidiary management corporation to which the application relates has determined an unreasonable rate as the rate of interest chargeable for the late payment of a contribution levied under section 40(6) or 79, as the case may be, the Board may, in respect of such contributions as are specified in the order, order that no interest be so chargeable or that the rate so chargeable be a rate specified by the Board in the order instead of the rate so determined.