South Australian Current Acts South Australian Current Acts25—Penalties for late payment of levy
(1) If a project owner
fails to pay any levy due under this Act in accordance with the requirements
of this Act—
(a) the
amount in arrears will, until paid, be increased by penalty interest at the
prescribed rate under subsection (2); and
(b)
the Board may impose on the project owner a fine of an amount (not exceeding
the prescribed sum) fixed by the Board.
(2) The prescribed
rate under this subsection is the 10 year bond rate declared by the South
Australian Government Financing Authority in respect of investments made on
the first day of the financial year during which penalty interest becomes
payable under subsection (1).
(3) The Board may for
any proper reason remit penalty interest or a fine imposed under
subsection (1) wholly or in part.
(4) The imposition of
a penalty under this section does not affect the liability of a project owner
to pay a levy.