Insolvency, Restructuring and Dissolution (Late Lodgment Penalties) Regulations 2020

Where a person fails to comply with the time delimited by the Act for the filing or lodgment of a specified document specified in Part 1 of the Schedule with the Official Receiver, the appropriate penalty mentioned in paragraph (3) for late filing or lodgment must be paid in addition to the fee payable by the person for the filing or lodgment of the specified document with the Official Receiver under the Act.

Where a person fails to comply with the time delimited by the Act for the filing or lodgment of a specified document specified in Part 2 of the Schedule with the Registrar of Companies, the appropriate penalty mentioned in paragraph (3) for late filing or lodgment must be paid, whether or not any fee is payable for the filing or lodgment of the specified document with the Registrar of Companies under the Act.

For the purposes of paragraphs (1) and (2), the appropriate penalty for late filing or lodgment is the amount set out in the second column of the following table corresponding to the length of default (calculated in terms of months after the date on which the specified document was required to be filed or lodged) set out in the first column of the table:First columnSecond columnUp to 3 months$50Exceeding 3 months$200

The Permanent Secretary of the Ministry of Law may, in his or her discretion, waive, refund or remit wholly or in part any penalty payable for the late filing or lodgment of any specified document specified in Part 1 of the Schedule.

The Registrar of Companies may, in his or her discretion, waive, refund or remit wholly or in part any penalty payable for the late filing or lodgment of any specified document specified in Part 2 of the Schedule.