Northern Territory Consolidated Acts Northern Territory Consolidated Acts73. Discount, interest rate etc.
(1) A service authority may, (in the case of a body corporate, by resolution, and, in any other case, in the prescribed manner and form, if any) declare:
(a) that a discount is to be given for the prompt payment, or the payment in advance, of a contribution payable under this Part;
(b) the rate or rates of a discount referred to in paragraph (a) and the circumstances in which it is to be given;
(c) the rate of interest payable on a contribution or part of a contribution if, in each case, the contribution is paid late; or
(d) that a refund or remittance of all or part of a contribution otherwise payable is to be made in the special circumstances of a particular case.
(2) The interest payable under subsection (1)(c) is to be:
(a) calculated on the amount outstanding from time to time on a monthly basis until the contribution is paid in full; and
(b) not more than:
(i) the prescribed rate of interest; or
(ii) in the case of a local authority - the rate of interest payable to it on rates payable under the Local Government Act but not paid when due and payable.
(3) A person may apply to the service authority for a refund or remittance, in the special circumstances of the person, of all or part of a contribution otherwise payable by the person under this Part.