Singapore legislation

Regulation 4

of Public Transport Council (Prescribed Period for Contribution of Proportion of Fare Increases) Regulations 2016

Regulation 4

Interest for late payment of contribution

Subregulation 1

Where any instalment of a contribution is due and unpaid, the public bus operator or the licensed rapid transit system operator in arrears must pay interest on the amount in arrears at a rate of 5.5% per annum.

Subregulation 2

The interest referred to in paragraph (1) is payable starting on the date after the arrears in contribution are due up to and including the date the arrears are paid into the Public Transport Fund.

Read in full context — Public Transport Council (Prescribed Period for Contribution of Proportion of Fare Increases) Regulations 2016 →