Version of section 126 from 2003-01-01 to 2005-12-11:
Marginal note:Waiver of interest
126 (1) The Minister of National Revenue may at any time waive or cancel payment of all or any portion of any interest otherwise payable under this Part.
Marginal note:Interest on interest refunded
(2) If, as a result of a waiver or cancellation under subsection (1), a person is refunded an amount of interest that was paid, the person shall be given, in addition to the refund, interest at the prescribed rate for the period beginning on the first day after the day the amount was paid and ending on the day the refund is given, calculated on the amount of the refund.
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