62Application of Part III to certain regulations made with concurrence of Commissioners of Inland Revenue
In subsection (3) of section three of the National Insurance Act, 1959 (which imposes for a failure to comply with regulations made by virtue of that section the penalties provided by subsection (5) of section one hundred and fifty-seven of the Income Tax Act, 1952), for the words from the beginning to "this section " there shall be substituted the words " Sections forty-six and forty-seven of the Finance Act, 1960, shall apply in relation to regulations made by virtue of this section as they apply in relation to regulations made under section one hundred and fifty-seven of the Income Tax Act, 1952, " and for the words " so made " there shall be substituted the words " made by virtue of this section ".