(1) If an amount of a
levy remains unpaid after the day on which it becomes due for payment, there
is payable to the chief executive officer by way of penalty, in addition to
the amount of the levy, an amount calculated at the rate prescribed by the
regulations upon the amount of the levy from time to time remaining unpaid.
(2) The amount by way
of penalty referred to in subsection (1) is to be calculated from the time
when the amount of the levy became payable.