2. Section 29 of the Finance Act, No. 38 of 1971, as amended by Act No. 7 of 1974 (hereinafter referred to as the "principal enactment") is hereby repealed and the following section substituted therefore : -
29. Notwithstanding any of the provisions of the Motor Traffic Act, where payment of any licence fee due under any regulation made under that Act is not paid in full on or before the date on which such fee falls due for payment under that Act, or under any Notification made under section 28A, there shall be levied and collected a penalty
| | (a) amounting to ten per centum of the amount of such licence fee, if it is paid in full after the date on which such licence fee fell due for payment but before the expiration of six months from that date ; | | |
| | (b) amounting to twenty per centum of the amount of such licence fee, if it is paid in full after the expiration of six months from the date on which such licence fee fell due for payment but before the expiration of twelve months from that date; | | |
| | (c) amounting to thirty per centum of the amount of such licence fee, if it is paid in full after the expiration of twelve months from the date on which such licence fee fell due for payment.". | | |
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