LAND ACT 1958 - SECT 97 Penalty interest for failure to pay money due under contract of sale
LAND ACT 1958 - SECT 97
Penalty interest for failure to pay money due under contract of sale(1) A purchaser of land under this Division who fails to pay any money due under the contract of sale on the day it falls due shall pay in respect of the amount due, for the period of default, interest at the same rate as the rate of interest determined by the Minister under section 228.
(2) Nothing in subsection (1) affects the Minister's power to take any other action under this Division.
Nos 3709 s. 98, 5914 s. 2.
S. 98 substituted by No. 10011 s. 9.