Section 48
Consequences of default in payment of interest
of Penang Port Commission Act 1955
ActIn forceProvision 56 of 153
Section 48
(1)
If any sum due by the Commission under section 47 is not paid by the Commission on the date on which the same is payable the Commission shall continue liable for the payment thereof.
(2)
Interest shall be paid by it upon the balance from time to time overdue at a rate to be determined by the Minister of Finance until the whole amount is paid.