Australian Capital Territory Numbered Regulations Australian Capital Territory Numbered Regulations(1) For each year, or part year, of the noncompliance period, the lessee must pay the amount worked out as follows:
(2) In this section:
"A" means—
(a) for the 1st to 4th year of the noncompliance period—0; and
(b) for the 5th or later year of the noncompliance period—1.
"days" means—
(a) for a year—365; or
(b) for a part year—the number of days in the part year.
"rates" means the amount of rates imposed under the Rates Act 2004
, section 14 in relation to the land described in the lease for the financial year in which the noncompliance fee is worked out.
Example
Lyndall's lease includes a building and development provision requiring the works to be completed by 1 July 2025, but the works are not completed in time.
The works are eventually completed on 1 January 2030 (4 years and 184 days late). No fee is payable for the first 4 years of the noncompliance period (until 1 July 2029). Rates for the 2029-30 financial year are $5 000. Lyndall is liable to pay the following noncompliance fee:
Note The noncompliance fee may be waived under the Financial Management Act 1996
, s 131.