Tasmanian Numbered Regulations Tasmanian Numbered Regulations9. Interest on overdue accounts
(1) If the whole or any part of a fee prescribed by these regulations remains unpaid 60 days after the day on which an account for that fee is rendered, interest is payable on the unpaid amount at a rate determined by the Secretary.
(2) For the purpose of subregulation (1) –
(a) the interest is to be simple interest calculated daily from, and including, the day immediately following the last day of the 60-day period referred to in that subregulation; and
(b) the rate of interest is not to exceed 12% per year.