Labour Relations Act, 1995 (Act No. 66 of 1995)

Notices

National Bargaining Council of SA Leather Industry

The Agency Shop Collective Agreement for Employees

Extension to Non-Parties of the Agency Shop Collective Agreement for Employees

Notice No. 909 of 2017

5. Interest on Late Payments
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(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.