C1PART IIITHE BOARD OF THE PENSION PROTECTION FUND

Annotations:
Modifications etc. (not altering text)

CHAPTER 1THE BOARD

Financial matters

F1Administration 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.