22(1)It is an offence for a person to fail to comply with a requirement imposed by—E+W
(a)paragraph 21(2), or
(b)paragraph 21(3).
(2)A person who is guilty of an offence under sub-paragraph (1) is liable on summary conviction to a fine not exceeding level 5 on the standard scale.
(3)It is a defence for a person charged with an offence under sub-paragraph (1)(a) to show that at the time of the alleged offence the person had no knowledge of the facts by virtue of which the duty to notify arose.
Commencement Information
I1Sch. 13 para. 22 in force at 1.10.2011 by S.I. 2011/2196, art. 2(1)(d)
23(1)This paragraph applies if a person under the duty to notify imposed by paragraph 21(2)—E+W
(a)had no knowledge of the facts by virtue of which that duty arose, but
(b)subsequently becomes aware of those facts.
(2)The person must give the licensed body and the licensing authority the required notification within such period, after the person becomes so aware, as may be specified by order made by the Lord Chancellor on the recommendation of the Board.
(3)A person who fails to comply with the duty to notify imposed by sub-paragraph (2) is guilty of an offence.
(4)A person who is guilty of an offence under sub-paragraph (3) is liable on summary conviction to a fine not exceeding level 5 on the standard scale.
Commencement Information
I2Sch. 13 para. 23 in force at 1.10.2011 by S.I. 2011/2196, art. 2(1)(d)
24(1)It is an offence for a non-authorised person, who under paragraph 21(2) is required to notify the licensed body and the relevant licensing authority of a proposal to take a step, to take the step, unless the relevant licensing authority has approved the investor's holding of the notifiable interest under paragraph 27 or 28.E+W
(2)If paragraph 22(3) applies, the reference in sub-paragraph (1) to paragraph 21(2) is to be read as a reference to paragraph 23(2).
(3)A person who is guilty of an offence under sub-paragraph (1) is liable—
(a)on summary conviction, to a fine not exceeding the statutory maximum, and
(b)on conviction on indictment, to a term of imprisonment not exceeding 2 years or a fine (or both).
Commencement Information
I3Sch. 13 para. 24 in force at 1.10.2011 by S.I. 2011/2196, art. 2(1)(d)