Section 7

Section 107C of the principal Act is amended by inserting after subsection (11a) the following subsection:

“(11b) Where there is a failure by a company, limited liability partnership, trust body or co-operative society to make up its accounts ending on the corresponding day in the following basis year pursuant to subsection 21a(3) and the company, limited liability partnership, trust body or co-operative society fails to give a notification in accordance with subsection 21a(3a), any amount of increase or sum that had been imposed under this section based on the accounting period prior to the new accounts as mentioned in subsection 21a(3a) shall continue to be recoverable as if it were tax due and payable from the company, limited liability partnership, trust body or co-operative society to the Government.”.