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AR 235/88 CHARGING OF INTEREST ON AMOUNTS OWING TO THE CROWN REGULATION

(no amdt)

ALBERTA REGULATION 235/88

Financial Administration Act

CHARGING OF INTEREST ON AMOUNTS OWING
TO THE CROWN REGULATION

1   In this Regulation, “due date” means the date specified for the payment of a sum of money to the Crown.

AR 235/88 s1

2   Unless otherwise provided for, if a sum of money owing to the Crown is in arrears, interest may be charged on the sum of money from the due date until the amount owing is paid.

AR 235/88 s2

3   Where interest is charged, it shall be charged on the outstanding balance each month and the monthly rate of interest used to calculate the interest owing shall not exceed one percent (1%).

AR 235/88 s3

4   Treasury Board Regulation 03/87 is hereby repealed by this Regulation.

AR 235/88 s4