(1) The regulations may provide for the payment of an amount of levy to be made by instalments, and, subject to subsection (2), each instalment is due and payable at a time ascertained in accordance with the regulations.
(2) If:
(a) the regulations provide for the payment of an amount of levy to be made by instalments; and
(b) an instalment is not paid at or before the time due for payment of the instalment;
the whole of the amount of levy unpaid becomes due and payable at that time.