—(1) Where an employer fails to pay compensation in accordance with section 24(4) or 28(1A), or where an employer fails to make a deposit with the Commissioner under section 29(3), the employer shall be liable to pay the Commissioner or such other person as the Commissioner may direct, interest on the amount unpaid at such prescribed rate subject to the following provisions:
the amount of interest on compensation unpaid shall not exceed 50% of the assessed amount of compensation; and
the Commissioner may, in his discretion, waive or remit the whole or any part of such interest.
(2) Any interest under subsection (1) shall be payable —
to or for the benefit of the employee;
where the employee is dead, to or for the benefit of any one or more of the deceased employee’s dependants or to the estate of the deceased employee where a will has been produced, as the Commissioner deems fit, or where the deceased employee has no dependants, to the Workers’ Fund; or
where the employee is mentally incapacitated, to any one or more of the employee’s dependants for the benefit of the employee, or to any deputy appointed or deemed to be appointed for the employee by the High Court under the Mental Capacity Act 2008 to manage the employee’s property, as the Commissioner deems fit.
* The words “committee or committees appointed under the Mental Disorders and Treatment Act (Cap. 178)” in section 28A(2)(c) will be substituted with the following words when item 1(54)(d) in the Second Schedule to the Mental Health (Care and Treatment) Act 2008 (Act 21 of 2008) is brought into operation:
“deputy appointed or deemed to be appointed for the employee by the High Court under the Mental Capacity Act 2008”.