Interest on late annual fees: depositories face monthly interest for unpaid, belated or short payments under regulation.

Where a depository defaults in paying any fee due under Regulations 8 or 9 - unpaid, belatedly paid or short-paid - it must pay interest at fifteen per cent per annum on the unpaid, belatedly paid or short-paid amount for every month of delay or part thereof, without prejudice to other action the Board may initiate under the Act, rules or regulations.

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