48   Minimum and late payment fees

(1)  The ITSRR may fix minimum fees and impose additional fees for late payment of fees after the due date for payment.

(2)  A fee for late payment of fees may be, but is not required to be, calculated on a daily basis.

(3)  The ITSRR may, at the ITSRR’s discretion, waive payment of the whole or any part of a fee for late payment of a fee.