52FWithdrawal of agent determination

52F Withdrawal of agent determination (1) The Commissioner may withdraw an agent determination at any time within 5 years after the date of the determination, whether or not the amount payable under it has been paid. (2) If the Commissioner withdraws an agent determination, the Commissioner must issue a notice withdrawing the notice of liability issued in relation to the agent determination. (3) If an agent determination is withdrawn, the following apply: (a) any amount paid in satisfaction, or purported satisfaction, of the amount that was payable under it is to be refunded; (b) if the withdrawn agent determination is the subject of an objection, application for review or appeal under Part 11 – interest is to be allowed on the amount of the refund on the same basis as would have been applicable if that amount had been required to be refunded as a result of the objection, review or appeal; (c) a fresh determination of the liability to which the withdrawn agent determination related cannot be made more than 5 years after the date of the initial determination under section 52B(3) of the agent's liability. (4) However, if it later appears that the agent determination would not have been withdrawn if the agent to whom it related had made a full and true disclosure of all the facts and circumstances affecting the liability, subsection (3)(c) does not apply.