Deferred payment
153 Deferred payment
The Corporation may, on application by an employer, defer the payment of a statutory payment by the employer if satisfied that—
the employer is in financial difficulties; but
the employer has a reasonable prospect of overcoming the financial difficulties and the deferment would assist materially in overcoming those difficulties.
A deferment may be given under this section on conditions that the
Corporation considers appropriate having regard to the objects of this
Act.
The Corporation may, by written notice to the employer, cancel a deferment under this section.
If a deferment is cancelled, the employer must pay to the
Corporation the amount covered by the deferment as required by the notice of cancellation.
Nothing in this section affects the ability of the Corporation to allow an employer to pay a statutory payment by instalments.
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