(1) An approved partnership business that is registered under section 73 is deemed to be a collector of the tourism levy in accordance with section 8 of the Tourism Levy Act.
(2) Notwithstanding section 20 of the Tourism Levy Act, and subject to section 73 and this section, an approved partnership business shall collect and remit to the Authority the tourism levy collected and recorded in its accounting system no later than the 21st day of the following calendar month.
(3) The Authority shall cause the tourism levy to be paid into and placed in an account at a financial institution approved by the Minister responsible for finance.
(4) Notwithstanding section 22 of the Tourism Levy Act, the Authority shall apply the tourism levy remitted under subsection (3) to the payment of its obligations or in the discharge of its functions under this Act.