52Interest payable on levy payment

52 Interest payable on levy payment (1) This section applies if an employer for a covered industry fails to pay the authority the levy payable under section 50, in relation to a return for a quarter at the time the return is required to be given to the authority under section 49 (1). (2) The employer is liable to pay to the authority interest on the amount of the levy unpaid, worked out daily from the end of the last day for payment until the day it is paid at the interest rate from time to time worked out under section 53. (3) However, the registrar may waive all or part of the interest if satisfied that the circumstances for the failure— (a) were not caused by the employer; or (b) make it unfair or unreasonable to charge the premium rate component. (4) If a court finds a person guilty of an offence under section 50, whether or not it convicts the person, the court may, whether or not it imposes a penalty on the person, order the person to pay the authority— (a) the levy to which the prosecution relates; and (b) the interest accrued on the amount of the levy unpaid.