PART IV
COLLECTION, REPAYMENT AND RELIEF
Penalty for late payment
12.—(1)  The levy shall be paid within the time specified in regulation 3 notwithstanding any objection but the Agency may extend the time within which payment is to be made.
(2)  If the levy is not paid within the time specified in regulation 3 or such further time as the Agency may allow, a penalty at the rate of 10% per annum of the amount outstanding shall be imposed from the expiration of such time or further times, as the case may be.
(3)  The service of a notice of assessment under regulation 8 does not affect the time from which the penalty referred to in paragraph (2) is to be imposed.
(4)  The Agency may, in any case, waive the payment of the whole or part of, or remit in whole or in part, any penalty imposed under paragraph (2) where the Agency considers that the circumstances of the case warrant it.
[S 454/2014 wef 01/07/2014]
Refund of levy overpaid
13.—(1)  Subject to paragraph (2), where the Agency is satisfied that any person has paid any levy in excess of the amount payable under the Act or these Regulations in respect of any month, the Agency shall —
(a)allow the person to set off the amount paid in excess against the amount of levy payable by him in respect of any month after a certificate from the Agency certifying the amount paid in excess is received by him; or
(b)refund to the person the amount paid in excess.
[S 454/2014 wef 01/07/2014]
(2)  No refund shall be made and no amount shall be set off under this regulation unless —
(a)a written application for refund or set off, as the case may be, in a form approved by the Agency for this purpose is made by the person who claims to have paid levy in excess of the amount payable within 6 years after the end of the month in respect of which the levy has been paid in excess; and
[S 454/2014 wef 01/07/2014]
(b)the person furnishes such information as the Agency may require to determine the amount paid in excess.
[S 454/2014 wef 01/07/2014]
(3)  Where through death, incapacity, bankruptcy or other cause, a person entitled to make a claim under this regulation is unable to do so, his executor, trustee or other representative shall be entitled to have the excess refunded to him for the benefit of that person or his estate, as the case may be.
(4)  The Agency shall certify any amount repayable under this regulation and shall cause repayment to be made forthwith.
[S 454/2014 wef 01/07/2014]