6. Section 27 of the principal enactment is hereby Amendment amended as follows : -
| (1) by the insertion immediately after subsection (2) thereof, of the following new subsections: -
| | " (2A) Where contributions payable under this Act by the employers or administrators of any approved provident fund or approved contributory pension scheme in respect of any month have not been paid to such fund or scheme on or before the last day of the succeeding month and the employer or administrator is unable to explain to the satisfaction of the Commissioner that the failure to pay such contribution was due to circumstances beyond his control, he shall be liable to pay to such fund or scheme in addition to the amount of the contributions due, a surcharge on such amount calculated in the following manner:-
| | | (a) Where the contributions are in arrears for a period not exceeding ten days, a surcharge of five per centum of the amount of the contributions due; |
| (b) where the contributions are in arrears for a period exceeding ten days but not exceeding one month a surcharge of fifteen per centum of the amount of the contributions due ; |
| (c) where the contributions are in arrears for a period exceeding one month but not exceeding three months, a surcharge of twenty per centum of the amount of the contributions due; |
| (d) where the contributions are in arrears for a period exceeding three months but not exceeding six months, a surcharge of thirty per centum of the amount of the contributions due; |
| (e) where the contributions are in arrears for a period exceeding six months but not exceeding twelve months, a surcharge of forty per centum of the amount of the contributions due; and |
| (f) where the contributions are in arrears for a period exceeding twelve months, a surcharge of fifty per centum of the contributions due. |
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| | (2B) The moneys received by way of surcharges and paid into the fund of any approved provident fund or approved contributory pension scheme shall be deemed to form part of the income of such fund or scheme as the case may be and shall accordingly be distributed among the members of the respective fund or scheme. " ; and | | |
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| (2) by the addition immediately after subsection (11) thereof, of the following new subsection: -
| | " (12) Where the Commissioner has been notified of the existence of a dispute, between an employer or administrator as the case may be, and any member of an approved provident fund or approved contributory pension scheme he shall issue such directions as he may deem appropriate in the circumstances for the settlement of such dispute. Any directions issued by the Commissioner under this subsection shall be binding on the parties to the dispute.". | | |
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Sri Lanka Consolidated Acts