This Section sets out the effect of a replacement notice issued under Section 112.
	Subsection (1) sets out that this Section applies when a notice of underpayment is withdrawn under Section 111, and a replacement notice is issued in accordance with Section 112.
	Subsection (2) sets out that if an appeal made under Section 110 against the original notice is ongoing, the appeal has effect as if it was made against the replacement notice, and the person given the notice can appeal the replacement notice only if the original appeal is withdrawn.
	Subsection (3)(a) states that any penalties paid under the original notice are considered as paid under the replacement notice. Subsection (3)(b) explains that if the penalty under the replacement notice is less than an amount already paid under the original notice, the excess amount must be refunded with interest at the appropriate rate.
	Subsection (4) specifies that ‘the appropriate rate’ mentioned in subsection (3)(b) is the rate specified in section 17 of the Judgments Act 1838.
Part 5: Enforcement of Labour Market Legislation Notice of Underpayment Section 113 – Effect of replacement notice of underpayment