“Administration levy: interest for late payment103A

(1)

Regulations may make provision for interest to be charged at the prescribed rate in the case of late payment of an administration levy.

(2)

Interest is payable by or on behalf of the person or persons by or on behalf of whom the levy is payable.

(3)

Interest payable by a person by virtue of this Article is a debt due from the person to the Department.

(4)

Interest is recoverable by the Department or, if the Department so determines, by the Regulator on the Department's behalf.

(5)

Without prejudice to the generality of paragraph (1), regulations under this Article may include provision relating to—

(a)

the collection and recovery of interest;

(b)

the circumstances in which interest may be waived.”.

“Fraud compensation levy: interest for late payment171A

(1)

Regulations may make provision for interest to be charged at the prescribed rate in the case of late payment of a fraud compensation levy.

(2)

Interest is payable by or on behalf of the person or persons by or on behalf of whom the levy is payable.

(3)

Interest payable by a person by virtue of this Article is a debt due from the person to the Board.

(4)

Interest is recoverable by the Board or, if the Board so determines, by the Regulator on its behalf.

(5)

Without prejudice to the generality of paragraph (1), regulations under this Article may include provision relating to—

(a)

the collection and recovery of interest;

(b)

the circumstances in which interest may be waived.”.

“(5)

Where regulations make provision under paragraph (3), Article 103A (interest for late payment of administration levy) applies in relation to the levy as it applies in relation to an administration levy.”.