Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) For subsection 595(1) of the Act, this section provides for a late payment fee in relation to certain cost - recovery charges.
(2) If a cost - recovery charge referred to in section 108 is not paid at or before the time the charge is due and payable, a late payment fee, worked out in accordance with subsection (4), is due and payable in addition to the charge.
(3) If an instalment of a cost - recovery charge referred to in paragraph 108(4)(b) is not paid at or before the time the instalment is due and payable, a late payment fee, worked out in accordance with subsection (4), is due and payable in addition to the instalment.
(4) The late payment fee is:
where:
"days overdue" is the number of days after the relevant charge is due and payable that elapse before the day on which the relevant charge is paid.
"relevant charge" means a cost - recovery charge referred to in subsection (2) or an instalment referred to in subsection (3).