South African Council for Educators Act, 2000
R 385
Labour Relations Act, 1995 (Act No. 66 of 1995)NoticesNational Bargaining Council of SA Leather IndustryThe Agency Shop Collective Agreement for EmployeesExtension to Non-Parties of the Agency Shop Collective Agreement for EmployeesNotice No. 909 of 20175. Interest on Late Payments |
| (1) | Should any amount due in terms of Clause 4(7)(a) not be received by the fifteenth day of the month following the month in respect of which it is payable, the Employer shall pay interest on such outstanding amount at a rate determined by the Council from time to time, subject to the provisions of the Limitation and Disclosure of Finance Charges Act, 1968. |
| (2) | The interest in terms of subclause (1) shall be calculated from the first day of the month in which payment became due until the day upon which payment is actually received by the General Secretary. |
| (3) | The Council shall be entitled in its absolute discretion to waive payment of interest or part thereof. |
