37Levy amounts and levy interest collected by collection agency to be separately accounted for

37 Levy amounts and levy interest collected by collection agency to be separately accounted for

(1) A collection agency must separately account for levy amounts and levy interest collected by the collection agency under this Act.

(2) Levy amounts and levy interest collected by a collection agency under this Act is held on trust by the collection agency on behalf of the Commissioner.

(3) Subject to subsection (4), any interest earned on levy amounts and levy interest may be retained by the collection agency.

(4) The Commissioner may require interest earned on levy amounts and levy interest to be paid to the Commissioner if he or she determines that a collection agency has failed to perform its duties or is in breach of its obligations under this Act.

(5) Any amount collected by a collection agency that is determined or found to be an overpayment under section 36(4) or (5) must be refunded to the person who made the overpayment.

(6) A determination made by the Commissioner under subsection (4) is a non-reviewable decision.