50Administration fees and late payment fees for exempt employers

#### 50 Administration fees and late payment fees for exempt employers 50 Administration fees and late payment fees for exempt employers > > (1) The amount of $175 is prescribed as the administration fee payable under section 155AA(5) of the 1987 Act. > > > (2) The Nominal Insurer may serve a notice in writing on an employer to whom section 155AA(5) of the 1987 Act applies notifying the employer that the administration fee referred to in that subsection is due and payable. > > > (3) The administration fee referred to in subclause (2) must be paid by the employer within one month of the service of the notice. > > > (4) A late payment fee calculated at the prescribed rate (within the meaning of section 172 of the 1987 Act) applicable to a policy of insurance issued or renewed on the date that notice was served is payable if an administration fee is not paid within the one month period referred to in subclause (3). > > > (5) The Authority may waive payment (either in full or in part) of an administration fee or late payment fee payable under section 155AA of the 1987 Act. > > > (6) The Nominal Insurer is to pay any administration fees and late payment fees it has received under section 155AA of the 1987 Act into the Insurance Fund. Administration fees paid into the Insurance Fund are to be treated as premiums payable under policies of insurance.