(1)A person who fails without reasonable excuse to comply with any requirement imposed on him under section 17(1) or [F1paragraph 9 of Schedule 2ZA] shall be guilty of an offence and liable on summary conviction to a fine not exceeding level 4 on the standard scale.
(2)If after conviction of an offence under subsection (1) a person continues the failure for which he was convicted, he shall be guilty of a further offence under that subsection and liable on summary conviction to be punished accordingly.
(3)A person who in purported compliance with a requirement imposed on him under section 17(1) or [F2paragraph 9 of Schedule 2ZA] provides information which he knows to be false or misleading in a material particular, or recklessly provides information which is false or misleading in a material particular, shall be guilty of an offence and liable—
(a)on conviction on indictment, to imprisonment for a term not exceeding 2 years, or to a fine, or to both, or
(b)on summary conviction, to imprisonment for a term not exceeding 3 months, or to a fine not exceeding the statutory maximum, or to both.
Textual Amendments
F1Words in s. 38(1) substituted (1.3.2024) by Financial Services and Markets Act 2023 (c. 29), ss. 71(3), 86(3); S.I. 2024/250, reg. 2(c)
F2Words in s. 38(3) substituted (1.3.2024) by Financial Services and Markets Act 2023 (c. 29), ss. 71(3), 86(3); S.I. 2024/250, reg. 2(c)