Section 6: Prescribed dates for payments and penalty for non-payment.

(1) The Board shall, from time to time, by notice served by registered post on the oil marketing company concerned, specify the date on which any net surplus revenue due from that oil marketing company shall be paid to the Board.
(2) If any sum is not paid within twenty-one days of the specified date, a sum equal to ten per centum of the amount unpaid shall be added for each month or part of a month after the date on which payment should have been made.
(3) The Board may, if it thinks fit, remit in whole or in part any penalty imposed under this section.