Public Utilities (Prescribed Interest Rate for Late Financial Penalty) Regulations 2018

Status:

Published in Subsidiary Legislation Supplement
on 29 Mar 2018

No. S 167

Public Utilities Act

(CHAPTER 261)

Public Utilities
(Prescribed Interest Rate for Late Financial
Penalty) Regulations 2018

In exercise of the powers conferred by section 72 of the Public Utilities Act, the Public Utilities Board, with the approval of the Minister for the Environment and Water Resources, makes the following Regulations:

Citation and commencement

1. These Regulations are the Public Utilities (Prescribed Interest Rate for Late Financial Penalty) Regulations 2018 and come into operation on 1 April 2018.

Interest for late payment of financial penalty

2.—(1) For the purposes of section 41(8A) of the Act, the prescribed rate of interest on any outstanding sum (as defined in that section) is 5.5% per annum.

(2) The interest mentioned in paragraph (1) is payable starting on the date after the outstanding sum is due up to and including the date the outstanding sum is paid.

Made on 27 March 2018.

CHIANG CHIE FOO

Chairman,
Public Utilities Board,
Singapore.

[MEWR S030/01/124 V15; AG/LEGIS/SL/261/2015/15 Vol. 1]

(To be presented to Parliament under section 72(4) of the Public Utilities Act).

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