Frontier Lands Petroleum Royalty Regulations

19 (1) For the purposes of section 66 of the Act, the prescribed rate of interest for any period is the rate referred to in subsection 16(1).

(2) The interest payable by the Minister pursuant to section 66 of the Act on an overpayment made by an interest holder on account of royalties, or on account of interest or penalties relating to those royalties, shall be calculated from the date of the overpayment to the date of the refund of the overpayment by the Minister, and shall be compounded monthly.