13 20 Amendment of Nineteenth Schedule to Cap. 23:06 With effect from the 1st January, 2006, the Nineteenth Schedule ("Non-Residents’ Tax on Royalties") to the Income Tax Act [Chapter 23:06] is amended in paragraph 6 ("Penalty for non-payment of tax") by the insertion of the following subparagraph after subparagraph (2)— "(3) If a defaulting payer or agent referred to in subparagraph (1) does not pay the penalty in full on the date on which the default has ceased, interest, calculated at a rate to be fixed by the Minister by statutory instrument, shall be payable on so much of the penalty as remains unpaid by the payer or agent during the period beginning on the date the default has ceased and ending on the date the penalty is paid in full, and such interest shall be recoverable by the Commissioner by action in any court of competent jurisdiction: Provided that in special circumstances the Commissioner may extend the time for payment of the penalty without charging interest.". 21 Amendment of Twenty-First Schedule to Cap. 23:06 (1) The Twenty-First Schedule ("Residents’ Tax on Interest") to the Income Tax Act [Chapter 23:06] is amended— (a) with effect from the 1st December, 2005, in paragraph 2 ("Financial institutions to withhold tax")(1) by the repeal of the proviso thereto and the substitution of— "Provided that in the case of interest referred to in paragraph (a)(ii) and (iii) of the definition of "interest" in paragraph 1(1), payment of the interest shall be deemed to have been made on the date of maturity of the Treasury bill, banker’s acceptance or other discounted instrument concerned."; (b) with effect from the 1st January, 2006, in paragraph 6 ("Penalty for non-payment of tax") by the insertion of the following subparagraph after subparagraph (2)— "(3) If a defaulting financial institution or agent referred to in subparagraph (1) does not pay the penalty in full on the date on which the default has ceased, interest, calculated at a rate to be fixed by the Minister by statutory instrument, shall be payable on so much of the penalty as remains unpaid by the financial institution or agent during the period beginning on the date the default has ceased and ending on the date the penalty is paid in full, and such interest shall be recoverable by the Commissioner by action in any court of competent jurisdiction: Provided that in special circumstances the Commissioner may extend the time for payment of the penalty without charging interest.". (2) Section 15 ("Amendment of Twenty-First Schedule to Cap. 23:06") of the Finance Act, 2005 (Act No. 2 of 2005) is amended with effect from the 12th September, 2005, by the deletion of "With effect from the 1st September, 2005, the Twenty-First Schedule" and the substitution of "The Twenty-First Schedule". 22 Amendment of Twenty-Fourth Schedule to Cap. 23:06 With effect from the 1st January, 2006, the Twenty-Fourth Schedule ("Tobacco Levy") to the Income Tax Act [Chapter 23:06] is amended in paragraph 5 ("Penalty for non-payment of tobacco levy") by the insertion of the following subparagraph after subparagraph (2)— "(3) If a defaulting auctioneer referred to in subparagraph (1)(b) does not pay the penalty in full on the date on which the default has ceased, interest, calculated at a rate to be