keep Interest and Administrative Charges Regulations
Establishes interest and administrative charge regime for amounts owing to the federal government. Sets interest at average bank rate + 3%, compounded monthly, with exemptions and waivers. Imposes $15-$25+ charges for dishonored payments.
Without this regulation, government departments would lack uniform, transparent rules for recovering debts, likely leading to arbitrary rates, inconsistent enforcement, and potential overreach. The regime balances revenue protection with fairness through defined rates, limited charges, and waiver provisions for hardship or government error. Deleting it would increase uncertainty and administrative costs for both government and citizens.