Section 77E of the Principal Act is amended as follows:

(a) by omitting from subsection (1) "shall be paid to the Commission by quarterly" and substituting "are to be paid to the Commission by monthly" ;

(b) by omitting from subsection (2) "shall, not later than 14 days after the end of each quarter" and substituting "must, not later than 14 days after the end of each month" ;

(c) by omitting from subsection (2) "quarter" second occurring and substituting "month" ;

(d) by inserting the following penalty after subsection (2) :

Penalty:  Fine not exceeding 500 penalty units and, in the case of a continuing offence, a further fine not exceeding 5 penalty units for each day during which the offence continues.

(e) by omitting subsection (3) .