Regulation 31

If the Board imposes, confirms or varies any financial penalty, the Board may, in addition, order that interest be paid on the amount of any such penalty from such date, not being a date earlier than the date upon which the notice of appeal was lodged in accordance with regulations 7 and 8, and at such rate as the Board considers appropriate.

Unless the Board otherwise directs, the rate of interest shall not exceed the rate prescribed in the Rules of Court 2021 (G.N. No. S 914/2021) in respect of judgment debts.

Any interest ordered to be paid under paragraph (1) shall form part of the penalty payable and be enforced according to section 85 of the Act.