(1) If an employer fails to pay to the board the amount for a period by the due date, the employer is liable to pay to the board (in addition to the amount) the greater of the following amounts:
(a) interest on the amount at the rate of 2.5% of the amount for each month or part of a month after the due date in which the amount is unpaid;
(b) $50 for each month or part of a month after the due date in which the amount is unpaid.
(2) The registrar may, on the application of the employer or of the registrar's own initiative, remit part or all of an additional amount payable under subsection (1) if satisfied that—
(a) the circumstances that gave rise to the contravention were not caused directly or indirectly by the employer; or
(b) because of special circumstances, it would be fair and reasonable to remit part or all of that amount.