Section 23, Cap. 287

If before or on the day appointed for payment thereof a call orinstalment payable in respect of a share is not paid, the person from whom the same is due shall pay interest on the amount of the call or instalment at such rate not exceeding 10 per cent per annum as the Directors shall fix from the day appointed for paymemt thereof to the time of actual payment, but the Directors may waive payment of such interest wholly or in part.