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I shall up the ante on this question. This is a reply from a friend i have at the call center that includes the strata hotline.
“- been tossing this one around among the experts in here and the bottom line
is…there is no bottom line.
The Act states (as you know):-
79 (2) A contribution, if not paid at the end of one month after it becomes due and
payable, bears until paid simple interest at an annual rate of 10 per cent or, if the
regulations provide for another rate, that other rate.
It remains up to an arbitrary interpretation of the Act as the Act itself does not
supply a prescriptive answer. A ruling sought from the Strata section within FT
would only result in a copy and paste of this section of the Act being supplied.”
Arbitrary interpretation of the Act ??? Legislation that is different things to
different people.
That is a really clear and workable situation.