Clause 8

by deleting the word “and” at the end of subsection (1)(b);

by deleting paragraph (c) of subsection (1) and substituting the following paragraphs:“(c)at the same time pay to the Commissioner interest upon such difference at the appropriate rates specified in the Sixth Schedule from the date of the death, or from such subsequent date as the Commissioner may in the circumstances think proper ––

in the case of a person dying before 1st January 2005, to the date of payment;

in the case of a person dying on or after 1st January 2005, to whichever of the following dates occurs first:

the date of receipt by the Commissioner of the further estate duty return or further account required under paragraph (a) without omission of assets;

the date of the notice of assessment of the difference; or

the date of payment; and

in the case of a person dying on or after 1st January 2005, if the difference or interest thereon, if any, is not paid in full within 30 days from the date of the notice of assessment of the difference, pay to the Commissioner a penalty at the rates specified in section 36(1A).”; and

by inserting, immediately after subsection (1), the following subsection:“(1A) For the purposes of determining the penalty payable under subsection (1)(d), the references in section 36(1A) to ––

the relevant date shall be read as the date 30 days after the date of the notice of assessment of the difference, or the date 6 months after the date of death of the deceased, whichever is the later; and

the unpaid estate duty shall be read as the unpaid difference, and includes any interest payable under subsection (1)(c).”.