98.  (1) The Authority may by regulations provide for all or any of the following matters relating to the levy under section 95:

(a) the date on which payment of the levy becomes payable;

(b) the keeping by the Authority and the Disciplinary Tribunal of specified records in respect of matters connected with the liability to pay the levy;

(c) the collection and recovery of the levy;

(d) subject to subsection (2), the rate of interest on amounts not paid when due;

F11[(de) the proxy measures and cost accounting methodologies to be used in respect of a proportion referred to in section 95B;]

(e) such other matters as are necessary for, or incidental to, the imposition, payment and collection of the levy.

F11[(1A) Before making regulations under subsection (1)(de), the Authority shall consult with—

(a) each professional body, and

(b) such other interested parties, including barristers who are not members of the Law Library, as the Authority considers appropriate.

(1B) The Authority shall, on a date that is not later than 24 months after the coming into operation of the regulations first made under subsection (1)(de), commence a review of the operation of the regulations, which review shall be concluded within 12 months of that date.

(1C) In carrying out the review referred to in subsection (1B), the Authority shall consider representations (if any) made, during such consultation, by or on behalf of any person or body with whom or with which it consulted under subsection (1A).]

(2) Regulations under subsection (1) may prescribe a formula for determining the interest rate referred to in subsection (1)(d) by reference to—

(a) the prevailing Euro Interbank Offered Rate,

(b) an additional rate certified by the Central Bank of Ireland, and

(c) such other additional rate as the Minister considers appropriate, taking into account the cost of recovering unpaid levy, including any bank charges the Authority may incur in maintaining a bank overdraft to cover a shortfall in funds arising out of unpaid levy.