On 25/05/2013,
you requested for the version in force on 25/05/2013
incorporating all amendments published on or before 25/05/2013.
The closest version currently available is that of 29/04/2011.
41.
—(1) Where any PPF Scheme member is given notice in writing to pay any levy under section 39(2) or any additional levy under section 40(2) for any premium year or part thereof, the PPF Scheme member shall pay to the Agency on or before the date of payment specified in the notice, the amount of levy or additional levy, as the case may be, that the PPF Scheme member is required to pay for that premium year or part thereof.
(2) Subject to subsection (3), if a PPF Scheme member fails to pay the levy or additional levy or any part thereof on or before the date of payment specified in the notice in contravention of subsection (1) —
(a)
the Agency may, by notice in writing, impose on the PPF Scheme member such late payment fee as the Agency may by Rules determine; and
(b)
the PPF Scheme member shall pay to the Agency the late payment fee together with the unpaid levy or additional levy, as the case may be, on or before the date of payment specified in the notice under paragraph (a).
(3) The late payment fee referred to in subsection (2) shall not exceed the amount of levy or additional levy, as the case may be, owing by the PPF Scheme member.
(4) The amount of levy or additional levy owing by the PPF Scheme member and the late payment fee shall be paid in such manner as may be specified in the Rules.
(5) Without prejudice to any other remedy, any levy, additional levy or late payment fee payable under this Act shall be recoverable as a debt due to the Agency by the PPF Scheme member.
(6) Where the Agency has commenced any legal proceedings in a court in Singapore to recover any levy, additional levy or late payment fee from a PPF Scheme member, the Agency shall be entitled to claim costs on a full indemnity basis from that PPF Scheme member.