Heritage Places (Prescribed Rate of Interest) Amendment Regulations 2024 (SA)
South Australia
under the
These regulations may be cited as the
Heritage Places (Prescribed Rate of Interest) Amendment Regulations 2024 .
These regulations come into operation on the day on which the
Heritage Places (Protection of State Heritage Places) Amendment Act 2024 comes into operation.
After regulation 5 insert:
5A—Prescribed rate of interest (sections 39A, 39B and 39C)
(1) For the purposes of sections 39A(5a)(a), 39B(12)(a) and 39C(8)(a) of the Act, the prescribed rate of interest per annum on an unpaid amount will be the prime bank rate for any financial year for which the amount remains unpaid.
(2) In this regulation—
prime bank rate for a particular financial year means the corporate loan reference rate applied by the Commonwealth Bank of Australia for corporate lending on the first trading day of the Bank in that financial year.
As required by section 10AA(2) of the
Legislative Instruments Act 1978 , the Minister has certified that, in the Minister's opinion, it is necessary or appropriate that these regulations come into operation as set out in these regulations.
with the advice and consent of the Executive Council
on 12 September 2024
No 91 of 2024
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