129FRecovery of amounts assessed as payable

129F Recovery of amounts assessed as payable (1) An amount determined to be payable by an assessment by the Authority under section 129D is due and payable to the Authority or self-insurer, as the case requires, by each person liable to pay the amount in accordance with the terms and conditions as to payment set out in the assessment and if periodic payments are required to be paid then those payments shall be made at such intervals between payments as the Authority or the Tribunal determines to be reasonable. (2) A contributor is not required under this section to pay any amount payable by reason of an assessment within less than 28 days after service of a copy of the assessment on the contributor. (3) The Authority or a self-insurer, as the case requires, may, in writing, grant an extension of time for payment of any amount determined to be payable by an assessment (whether or not the time has expired) or permit payment of any such amount by such instalments and within such time as it considers the circumstances warrant and, in such a case, the amount is due and payable accordingly. (4) If an amount determined by an assessment to be payable as contribution remains unpaid after the time when it became due and payable in accordance with the provisions of this Division, the person liable to pay the amount shall pay interest at the prescribed rate on the amount unpaid, computed from the date on which the amount was due and payable until payment. (5) If interest is due and payable by a person under this section and the Authority or a self-insurer, as the case requires, is satisfied that there are special circumstances by reason of which it would be just and equitable to remit the interest or part of the interest, the Authority or self-insurer may remit the interest or a part of the interest. (6) A contributor and the Authority or self-insurer may agree or the Tribunal may determine that the contributor pay a lump sum in full and final settlement of its liability to make payments under this Division, including future periodic payments, in accordance with the assessment. (7) An agreement or determination under subsection (6) is deemed to be an assessment for the purposes of this Division. S. 129F(8) amended by No. 25/2023 s. 7(Sch. 1 item 1). (8) An amount determined to be payable by an assessment as contribution to the Authority, including interest payable (if any), when it becomes due and payable, is a debt due to His Majesty and payable to the Authority. (9) An amount determined to be payable by an assessment as contribution to a self-insurer, including interest payable (if any), when it becomes due and payable is a debt due and payable to the self-insurer. (10) Any amount due and payable under this Division may be sued for and recovered in any court of competent jurisdiction. S. 129G inserted by No. 13/1988