44Payment by instalments

44 Payment by instalments (1) A person who is liable to pay an amount of the levy (other than an amount worked out under section 33(2)(b)(ii)) may apply to the Board for the payment to be made by instalments if: (a) the amount of the levy exceeds the amount prescribed by the Regulations for this subsection; and (b) the time reasonably needed to carry out the construction work exceeds one year. (2) The Board may approve or refuse the application. (3) If the Board approves the application: (a) the first instalment: (i) must not be less than the amount prescribed for subsection (1)(a); and (ii) must be paid to the Board at or before the time when the amount of the levy would, apart from this section, be payable by the person; and (b) each subsequent instalment: (i) must be equal to the amount decided by the Board and notified to the person; and (ii) must be paid within the time decided by the Board and notified to the person. (4) A time decided by the Board for subsection (3)(b)(ii) must be before the construction work ends. (5) An instalment: (a) does not bear interest under section 45; and (b) is not recoverable under section 47.

Construction Industry Long Service Leave and Benefits Act 2005 34 (6) However, if a person fails to pay an instalment in accordance with subsection (3): (a) the approval under this section ceases to have effect; and (b) the amount of the levy that remains unpaid by the person: (i) immediately becomes payable; and (ii) starts to bear interest under section 45; and (iii) is recoverable under section 47. (7) Subsection (6) does not apply if the Board is satisfied that the subsection should not apply because of the special circumstances of the case.