Commonwealth Numbered Acts

LIFE INSURANCE POLICY HOLDERS' PROTECTION LEVIES COLLECTION ACT 1991 No. 3 of 1992 - SECT 11

11. (1) If any levy payable by a company remains unpaid after the time when it
became due for payment, the company is liable to pay to the Commonwealth, by
way of penalty, an amount calculated at the rate of 20% per year on the amount
unpaid, computed from that time.

(2) The Commissioner may remit the whole or a part of an amount payable under
this section.