Singapore legislation
Regulation 4
of Civil Aviation Authority of Singapore (Service Charge) Order 2009
Regulation 4
Prescribed interest for late payment
Amended byS 1057/2024 wef 01/01/2025
For the purposes of section 88(1) of the Act, the prescribed rate of interest on the late payment of any service charge mentioned in paragraph 3(1) or part thereof is 4.5% points above the 3-month compounded SORA for the period —
(a)
starting on the date the payment or part of it is in arrears; and
(b)
ending on the date the service charge mentioned in that paragraph is paid to the Authority in full.