156Waiver of funding contribution and late payment penalty

156  Waiver of funding contribution and late payment penalty  (1) The Operator may, on behalf of the Commonwealth, waive the payment of all or part of funding contribution or late payment penalty payable by a participating institution or funder of last resort, if the Operator is satisfied that there are exceptional circumstances justifying the waiver.  (2) The Operator may do so on the Operator’s own initiative or on written application by a person in the approved form.