Section 7: The amount of indemnity for the use and occupation of the site by a hotel in

7. The amount of indemnity for the use and occupation of the site by a hotel in respect of the period between the expiry date of the previous lease and 18 July 2008 shall be payable— (a) in the case of a hotel on less than one hectare of land and with less than 50 bedrooms— (i) in 5 consecutive equal yearly instalments, without interest, not later than 31 January in every year, the first instalment being payable in 2011; or [Issue 5] S34 – 12 (4) Revised Laws of Mauritius (ii) in 8 consecutive equal yearly instalments, not later than 31 January in every year, the first instalment being payable in 2011, the first 5 yearly instalments being payable without interest and the last 3 yearly instalments being payable with annual interest as from 1 January 2015 at the Repo rate determined by the Bank of Mauritius plus 3 per cent, calculated at time of payment; or (b) in the case of other hotels— (i) in 3 consecutive equal yearly instalments, with interest at 5 per cent per annum, not later than 31 January in every year, the first instalment being payable in 2011; or (ii) in 5 consecutive equal yearly instalments, not later than 31 January in every year, with annual interest at the Repo rate determined by the Bank of Mauritius plus 3 per cent, calculated at time of payment, the first instalment being payable in 2011.