10. Amendment of section 27 of the principal enactment

Section 27 of the principal enactment is hereby amended by the addition immediately after subsection (2) of that section of the following subsection :—

Where any penalty payable under this section is outstanding on November 6, 2002—

such penalty shall be waived in full where the tax payable in default has been fully paid on or before

where a portion of the tax in default has been paid on or before November 6, 2002, such penalty referable to the amount of the tax in default paid shall be waived.