Section 181A — Pensions Act 2004: Pension protection levy: interest for late payment

Pension protection levy: interest for late payment 181A 1 Regulations may make provision for interest to be charged at the prescribed rate in the case of late payment of a pension protection levy.

2 Interest is payable by or on behalf of the person or persons by or on behalf of whom the levy is payable.

3 Interest payable by a person by virtue of this section is a debt due from the person to the Board.

4 Interest is recoverable by the Board or, if the Board so determines, by the Regulator on its behalf.

5 Without prejudice to the generality of subsection (1), regulations under this section may include provision relating to—

a the collection and recovery of interest;

b the circumstances in which interest may be waived.