Article 15
Time limit for payment 1. Before 1 September each year, purchasers and, in the case of direct sales, producers liable for the levy shall pay the competent authority the amount due in accordance with rules laid down by the Member State. 2. Where the time limit for payment referred to in paragraph 1 is not complied with, the sums due shall bear interest annually at the three-month reference rates applicable on 1 September each year, as referred to in Annex II, plus one percentage point. The interest shall be paid to the Member State. 3. The Member States shall declare to the European Agricultural Guidance and Guarantee Fund (EAGGF) the amounts resulting from the application of Article 3 of Regulation (EC) No 1788/2003 together with the expenditure declared in respect of September each year at the latest. 4. Where the set of documents referred to in Article 3(5) of Commission Regulation (EC) No 296/96(3) shows that the time limit referred to in paragraph 3 of this Article has not been met, the Commission shall reduce advances on entry in the accounts of agricultural expenditure in proportion to the amount due or an estimate thereof, in accordance with Article 3(2) of Regulation No 1788/2003.