(1) If an amount of a
levy remains unpaid after the day on which it becomes due for payment, there
is payable to the Minister by way of penalty, in addition to the amount of the
levy, an amount calculated at the rate of 20% per annum 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 becomes payable.
(3) Any amount paid by
way of penalty under subsection (1) is to be credited to an operating account
of the Department established under the Financial Management Act 2006
section 16(1)(a).
[Section 76 amended: No. 48 of 2009 s. 6.]