Singapore legislation
Clause 6
Clause 6
Amendment of section 24
Section 24 of the principal Act is amended by deleting subsection (5) and substituting the following: —“(5) Where payment is not made in accordance with subsection (4), the employer shall be liable to pay to the Commissioner interest at the rate of one and one-half per centum for each month or part thereof of the assessed amount from the date of the service of the notice under subsection (2) until the expiry of six months from that date and thereafter at the rate of three per centum for each month or part thereof:Provided that —
the amount of interest to which the employer is liable shall not exceed fifty per centum of the assessed amount; and
the Commissioner may in his discretion waive or remit the whole or any part of such interest.”.