PART ONEMAIN PROVISIONS
TITLE V Revenue operations
Article 21Interest for unpaid contribution amounts
1.
On the expiry of the time limits laid down in Article 19(2), (3) and (5), the Member State concerned shall be obliged to pay interest in accordance with the following conditions:
(a)
the interest rate shall be the rate applied by the European Central Bank to its principal refinancing operations, as published in the C series of the Official Journal of the European Union, in force on the first calendar day of the month in which the time limit expires, increased by two percentage points. That rate shall be increased by a quarter of a percentage point for each month of delay;
(b)
the interest shall be payable for the period elapsing from the calendar day following expiry of the time limit for payment up to the day of payment.
2.
In respect of the contribution referred to in point (a) of Article 19(7) of this Regulation, the interest shall be credited to one of the accounts provided for in Article 1(6) of the Internal Agreement
In respect of the contribution referred to in in point (b) of Article 19(7) of this Regulation, the interest shall be credited to the Investment Facility in accordance with Article 47(1) of this Regulation.