Public Service Commission Act, 1997
R 385
Long Term Insurance Act, 1998 (Act No. 52 of 1998)Part VIII : Offences and penalties68. Penalty for failure to furnish Authority with returns etc |
| (1) |
| (a) | A person who fails to furnish the Authority with a return, information or document, as provided by this Act, within the specified period or the period determined by the Authority by notice on the official website, or any extension thereof, shall, irrespective of any criminal proceedings instituted against the person under this Act, be liable to a penalty not exceeding R7 750 for every day during which the failure continues, unless the Authority, on good cause shown, waives the penalty or any part thereof. |
Section 68(1)(a) substituted by Notice No. 3078, GG48104, dated 24 February 2023]
| (b) | The amount referred to in paragraph (a) must be adjusted by the Authority annually in order to reflect the Consumer Price Index, as published by Statistics South Africa. |
| (2) | A penalty contemplated in subsection (1) shall be imposed by notice by the Authority on the person concerned, and such imposition shall be preceded by the procedures determined by the Authority by notice on the official website to afford such person a reasonable opportunity to be heard, and shall take effect on a date specified in such notice of the Authority which may be a date prior to the date of the notice. |
| (3) | A penalty so imposed shall constitute a debt due to the Authority and shall be recoverable by action by the Authority in any court having jurisdiction. |
[Section 68 substituted by section 18 of schedule 1 of Act No. 18 of 2017]
