16.3. The municipalities shall, within 30 days following the date of the statement of account sent by Retraite Québec, pay the amount of their contributions and the interest payable thereon.
Any amount not paid within 30 days bears interest, compounded annually, from the date of the statement of account, at the rate provided for in Schedule VII to the Act respecting the Government and Public Employees Retirement Plan (chapter R-10) and applicable on that date.
O.C. 793-93, s. 1; O.C. 866-2010, s. 11.