Compensation for Occupational Injuries and Diseases Act, 1993 (Act No. 130 of 1993)Chapter IX : Obligations of employers86. Assessment to be paid by employer to Compensation Fund |
[Section 86 heading substituted by section 53 of the Compensation for Occupational Injuries and Diseases Amendment Act 10 of 2022, Notice No. 3294, GG48431 dated 17 April 2023]
| (1) | An assessment shall be paid by an employer to the Compensation Fund within 30 days after the date of the notice of assessment or, with the approval of the Commissioner, in such instalments and at such times and on such conditions as the Commissioner may determine. |
| (2) | Interest is payable on an overdue assessment at a rate determined by the Commissioner, which shall not exceed the prevailing standard rate of interest as defined in the Prescribed Rate of Interest Act, 1975 (Act No. 55 of 1975). |
[Section 86 substituted by section 53 of the Compensation for Occupational Injuries and Diseases Amendment Act 10 of 2022, Notice No. 3294, GG48431 dated 17 April 2023 - effective 23 January 2026 per (a) of Proclamation Notice 306, GG53990 dated 23 January 2026]