§ In subsection (3) of section three of the National Insurance Act, 1959 (which imposes for a failure to comply with regulations made by virtue of that section the penalties provided by subsection (5) of section one hundred and fifty-seven of the Income Tax Act, 1952), for the words from the beginning to "this section" there shall be substituted the words "Sections forty-four to forty-six of the Finance Act, 1960, shall apply in relation to regulations made by virtue of this section as they apply in relation to regulations made under section one hundred and fifty-seven of the Income Tax Act, 1952," and for the words "so made" there shall be substituted the words" made by virtue of this section".—[The Solicitor-General.]
§ Brought up, and read the First time.
399§ The Solicitor-GeneralI beg to move, that the Clause be read a Second time.
Section 157 (5) of the Income Tax Act, 1952, lays down certain penalties for failure to comply with certain requirements of the P.A.Y.E. regulations as to furnishing of information, making returns, and so on. Section 3 (3) of the National Insurance Act, 1959, applied those penalties to failure to supply information for the purposes of the graduated pensions scheme. The P.A.Y.E. penalties are now being altered by the Finance Bill, and Section 157 (5) of the 1952 Act is repealed by Clause 42 of this Bill and by the Seventh Schedule, and the new penalties set out in Clauses 44 to 46 are substituted. The object of the new Clause is to make it clear that the new Income Tax penalties are to run for the National Insurance purpose.
§ Question put and agreed to.
§ Clause read a Second time, and added to the Bill.