452Default penalty

452 Default penalty (1) If an employer to which section 430(1) applies fails to pay the premium for a premium period, or a part of a premium period, in accordance with a notice of premium, the employer is liable to pay a default penalty, as set out in a notice of penalty given to the employer by the Authority, of an amount equal to the premium payable in respect of the premium period or part of the premium period, as set out in the notice of premium given by the Authority under section 449(1) that has not been paid. (2) If an employer to which section 430(1) applies for the whole or a part of a premium period was not registered under section 434 for the whole or that part of the premium period, the employer is liable to pay a default penalty equal to the premium payable for the period during which the employer was not so registered calculated in accordance with section 450 and set out in a notice of penalty given to the employer by the Authority.