Northern Territory Consolidated Acts Northern Territory Consolidated Acts57. Penalty for late payment
(1) If rent is not paid in respect of a pastoral lease within the time specified in section 56(2), interest shall accrue on the amount of rent from time to time outstanding at the rate of 1% above the Commonwealth Bank of Australia standard overdraft rate on the first working day after it first became in arrears and on the first working day after each subsequent 1 October, 1 January, 1 April and 1 July, as the case may be, with corresponding quarterly rests.
(2) The amount of penalty accrued under subsection (1) shall be added to and be deemed to be part of the rent outstanding for the purposes of calculating a future penalty and recovery of the penalty, and for the purposes of section 60.