Section 80.1 — Employment Insurance Act: Regulations — payment of interest

The Commission may, with the approval of the Governor in Council, make regulations respecting the payment of interest on amounts owing to Her Majesty under this Act, other than Parts IV and VII, including regulations prescribing rates of interest, or the manner of calculating rates of interest, payable; terms and conditions for the imposition and payment of interest; and terms and conditions under which the Commission may waive, reduce or write off the interest payable. Interest payable under this section is a debt due to Her Majesty and may be recovered in the Federal Court or any other court of competent jurisdiction or in any other manner provided by this Act, including the manner in which an amount owing under Part I may be recovered under subsection 47(2) or section 126. No interest due under this section may be recovered more than 72 months after the day on which the liability to pay it arose. Section 155.1 of the Financial Administration Act does not apply in relation to amounts owing to Her Majesty under this Act, other than Parts IV and VII.