Prompt Payment of Accounts Act, 1997
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Minister shall fix rates of interest penalty and may fix prescribed payment date. |
10.—(1) The Minister shall, by order, after consultation with the Minister for Finance, fix the rate of interest penalty payable pursuant to section 4 (2) and may, in the same manner, amend such an order. | |
(2) The Minister may, by order, after consultation with the Minister for Finance, prescribe a payment date that is earlier than the 45 days referred to in the definition of “prescribed payment date” in section 1 (1) or in section 9 (b), and may, by order— | ||
(a) amend such an order, or | ||
(b) revoke the order and make another order in its place. |