(1) A third party debtor who pays money to the Commissioner- General in accordance with section 59 or 60 shall be

(a) treated as having acted with the authority of the taxpayer and of all other persons concerned; and

(b) indemnified in respect of the payment against all proceedings, civil or criminal, and all processes, judicial or extra judicial.

(2) Subsection (1) applies despite any provision to the contrary in an enactment, contract or agreement.

(3) A notice under section 59 or 60 ceases to have effect once the tax or obligation referred to in the notice is paid or otherwise satisfied.

(4) Where a third party served with a notice under section 59 or 60 is unable to comply with the notice by reason of lack of money owing to or held for the taxpayer, the third party shall give notice of that fact to the Commissioner-General .

(5) A notice under subsection (4) shall

(a) be in writing;

(b) set out the reasons for the inability to comply; and

(c) be filed with the Commissioner-General as soon as practicable after the third party becomes aware of the inability and, in any event, before the payment date specified in section 59 or 60.

(6) The Commissioner-General may, on receipt of a notice under subsection(4), by notice in writing served on the third party

(a) cancel or amend the notice given under section 59 or 60; or

(b) reject the notice filed under subsection (4).

(7) The filing of a third party notice has no effect on the third party’s personal liability for amounts under section 59 or 60 unless the Commissioner-General cancels or amends the notice given under section 59 or 60.

(8) In this section, “third party” means a receiver served with a notice under section 59 or a third party debtor served with a notice under section 60.