Legal Services Regulation Act 2015
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Regulations relating to levy | ||
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98. (1) The Authority may by regulations provide for all or any of the following matters relating to the levy under section 95 : | ||
(a) the date on which payment of the levy becomes payable; | ||
(b) the keeping by the Authority and the Disciplinary Tribunal of specified records in respect of matters connected with the liability to pay the levy; | ||
(c) the collection and recovery of the levy; | ||
(d) subject to subsection (2), the rate of interest on amounts not paid when due; | ||
(e) such other matters as are necessary for, or incidental to, the imposition, payment and collection of the levy. | ||
(2) Regulations under subsection (1) may prescribe a formula for determining the interest rate referred to in subsection (1)(d) by reference to— | ||
(a) the prevailing Euro Interbank Offered Rate, | ||
(b) an additional rate certified by the Central Bank of Ireland, and | ||
(c) such other additional rate as the Minister considers appropriate, taking into account the cost of recovering unpaid levy, including any bank charges the Authority may incur in maintaining a bank overdraft to cover a shortfall in funds arising out of unpaid levy. |