35. Penalty or late payment charge

The Board may, with the approval of the Minister, prescribe a penalty or late payment charge (such penalty or late payment charge, if unpaid, to constitute a debt due to the Board and be recoverable as such) to be paid to the Board for late payment of any fee or charge (including any price mentioned in section 20(1)) or tax payable under this Act.

The Board may, with the Minister’s approval, waive the payment of any amount of a penalty or late payment charge under subsection (1) in respect of any person or class of persons.

To avoid doubt, a waiver under subsection (2) need not be published in the Gazette.