Singapore legislation
Regulation 8
of Civil Aviation Authority of Singapore (Airport Development Levy) Order 2018
Regulation 8
Interest on late payment of ADL
Amended byS 355/2023 wef 10/06/2023
Subregulation 1
Where any of the ADL which a person is liable under paragraph 5(1) to pay remains unpaid after the time by which the ADL is due according to paragraph 7 to be paid, the person is liable to pay the Authority interest on the amount unpaid.
Subregulation 2
Amended byS 355/2023 wef 10/06/2023
Interest under this paragraph accrues daily at the rate of 4.5%-point above the 3-month compounded SORA for the period —
(a)
starting the first day the ADL or part of it is in arrears; and
(b)
ending the day that the ADL in arrears is paid in full to the Authority or an ADL collection agent.