Module: General Practice
Q12: Who is designated as the Competent Authority to decide on the nature of an irregularity and levy a penalty or penal interest?
✅ Correct Answer: C
The Competent Authority to decide on irregularities and determine applicable Penal Interest Rates is the Officer-in-Charge of the Issue Department of the jurisdictional Regional Office.
They have the final say on Currency Chest Reporting disputes.
They have the final say on Currency Chest Reporting disputes.