(3) If any person fails to pay to the Supplementary Fund any sum due and payable under subsection (2) the Director of the Supplementary Fund may recover from the person by whom it was payable in any court of competent jurisdiction, as a simple contract debt, such sum together with interest thereon from the date on which such sum becomes payable, such interest to be at such rate as may, from time to time, be determined in accordance with the Internal Regulations of the Supplementary Fund.'.".