Fees for delayed registration

(1) An instrument shall be presented for registration within three months from the date of execution thereof. (2) Where an instrument is presented for registration later than three months from the date of the instrument, an additional fee equal to the registration fee shall be payable, for every period of three months or part thereof which has elapsed since the expiry of three months from the date of the instrument, but in no case shall the additional fee exceed five times the original registration fee payable.