Document ID: chunk:federal_register_of_legislation:C2004A01310:clause:1_34zm
Version: federal_register_of_legislation:C2004A01310
Segment Type: clause
Provision Reference: sch 1 cl 34ZM
Character Range: 30312–31486

34ZM  Penalty imposed if an amount is repaid late

 (1) If:
 (a) a person owes a debt to the Commonwealth under subsection 34ZJ(3); and
 (b) the debt remains wholly or partly unpaid after it becomes due and payable;
the person is liable to pay a late payment penalty under this section.

 (2) The late payment penalty is calculated:
 (a) at the rate specified in the regulations for the purposes of this paragraph; and
 (b) on the unpaid amount; and
 (c) for the period:
 (i) starting when the amount becomes due and payable; and
 (ii) ending when the amount, and the penalty payable under this section in relation to the amount, have been paid in full.

 (3) The HIC may remit the whole or a part of an amount of late payment penalty if the HIC considers that there are good reasons for doing so.

 (4) An application may be made to the Administrative Appeals Tribunal for review of a decision of the HIC not to remit, or to remit only part of, an amount of late payment penalty.

Note: Section 27A of the Administrative Appeals Tribunal Act 1975 requires notification of a decision that is reviewable.

Subdivision D—The Run‑off Cover Claims and Administration Protocol