3. Amendment of section 4 of the principal enactment
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Section 4 of the principal enactment is hereby amended by the repeal of subsection (3) of that section and the substitution therefor of the following subsections :—
“(3) Where any instalment of the levy is in default and —
the default is in respect of an instalment payable in any year commencing on or after
April 1, 1988 but prior to April 1, 2001, the in default, pay as penalty—
a sum equivalent to ten per centum of the instalment in default ; and
where the instalment in default is not paid before the fifteenth day of the month succeeding the month in which such-fStalment had begun to be in
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Betting and Gaming Levy (Amendment)
Act, No. 7 of 200!
default, a further sum equivalent to two per centum of the instalment in default in respect of each period ending on the fifteenth day of each succeeding month or part of such period, during which it is in default :
provided however, that the total amount payable as penalty under this paragraph shall, in no case exceed fifty per centum of the instalment in default ; and
the default is in respect of an instalment payable in any year commencing on or after
April 1, 2001, the defaulter shall in addition to the instalment in default, pay as penalty, a further sum equivalent to thirty three and one third per centum of the instalment in default, in respect of each period ending on the fifteenth day of each month, succeeding the month in which the instalment had begun to be in default or part of such period during which the instalment is in default :
Provided however, that the total amount payable as penalty under this paragraph, shall in no case exceed one hundred per centum of the instalment in default.
The Commissioner-General may reduce or waive any penalty payable under subsection (3), if the Commissioner - General is satisfied that by reason of any special circumstances in which the default occurred, a reduction or waiver of such penalty would be just and equitable.”.
Amendment of