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laws.sgby aturio
In forceAs enacted
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3. Interest on late payment of financial penalties

(1)

For the purpose of section 79A(1) of the Act, the prescribed rate of interest on any unpaid amount of any financial penalty mentioned in that provision (called in this regulation the outstanding sum) is 4.5 percentage points above the 3‑month compounded SORA.

(2)

The interest mentioned in paragraph (1) is payable starting on the date after the outstanding sum is due up to and including the date the outstanding sum is paid.

Subregulation 1

For the purpose of section 79A(1) of the Act, the prescribed rate of interest on any unpaid amount of any financial penalty mentioned in that provision (called in this regulation the outstanding sum) is 4.5 percentage points above the 3‑month compounded SORA.

Subregulation 2

The interest mentioned in paragraph (1) is payable starting on the date after the outstanding sum is due up to and including the date the outstanding sum is paid.

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