SCHEDULE 1Infrastructure-levy regulations
Financial penalty for late payment
9
(1)
Infrastructure-levy regulations may allow, or require, local authorities to charge a financial penalty if the payable amount is not paid within a period specified in the regulations.
(2)
The regulations may, in particular, provide for the charging of—
(a)
a penalty of a specified amount (or amounts),
(b)
a penalty that is calculated periodically as a proportion of the payable amount, or
(c)
both kinds of penalty.