37 Levy amounts and levy interest collected by collection agency to be separately accounted for (1) A collection agency must separately account for levy amounts and levy interest collected by the collection agency under this Act. (2) Levy amounts and levy interest collected by a collection agency under this Act is held on trust by the collection agency on behalf of the Commissioner. (3) Subject to subsection (4), any interest earned on levy amounts and levy interest may be retained by the collection agency. (4) The Commissioner may require interest earned on levy amounts and levy interest to be paid to the Commissioner if he or she determines that a collection agency has failed to perform its duties or is in breach of its obligations under this Act. (5) Any amount collected by a collection agency that is determined or found to be an overpayment under section 36(4) or (5) must be refunded to the person who made the overpayment. (6) A determination made by the Commissioner under subsection (4) is a non-reviewable decision. 38 Cancellation of assessment of liability to pay levy amount made in error (1) A collection agency may cancel an assessment of a person's liability to pay a levy amount in respect of leviable land if the collection agency is satisfied that an assessment has been made in error. (2) If a collection agency has made an assessment in error under subsection (1), the collection agency must—
37 Levy amounts and levy interest collected by collection agency to be separately accounted for (1) A collection agency must separately account for levy amounts and levy interest collected by the collection agency under this Act. (2) Levy amounts and levy interest collected by a collection agency under this Act is held on trust by the collection agency on behalf of the Commissioner. (3) Subject to subsection (4), any interest earned on levy amounts and levy interest may be retained by the collection agency. (4) The Commissioner may require interest earned on levy amounts and levy interest to be paid to the Commissioner if he or she determines that a collection agency has failed to perform its duties or is in breach of its obligations under this Act. (5) Any amount collected by a collection agency that is determined or found to be an overpayment under section 36(4) or (5) must be refunded to the person who made the overpayment. (6) A determination made by the Commissioner under subsection (4) is a non-reviewable decision. 38 Cancellation of assessment of liability to pay levy amount made in error (1) A collection agency may cancel an assessment of a person's liability to pay a levy amount in respect of leviable land if the collection agency is satisfied that an assessment has been made in error. (2) If a collection agency has made an assessment in error under subsection (1), the collection agency must—
12-58a014.docx