7.—(1) If any person liable to pay levy fails to notify the Welsh Levy Board or a subsidiary or nominated company of the information specified in Schedule 3 by the due date specified in that Schedule, the Welsh Levy Board or the subsidiary or nominated company may estimate the amount that should have been notified, and notify the person of the estimate.
(2) If the person fails to make a return within 28 days of notification of the estimate he or she becomes liable to pay levy on that estimate.
(3) The Welsh Levy Board may provide that a higher rate of levy is payable on the estimated amount, but that higher rate may not exceed the maximum rates provided for in Schedule 3.