PART 3REPORTING FUNDS AND THE TREATMENT OF PARTICIPANTS IN REPORTING FUNDS
CHAPTER 10BREACHES OF REPORTING FUND REQUIREMENTS
Provision of report that is incorrect or incomplete111
1
This regulation applies if—
a
a reporting fund provides a report specified in paragraph (2) that is incorrect or incomplete, and
b
regulation 110 does not apply.
2
The reports specified are—
a
the report to participants in accordance with the requirements of Chapter 7 of this Part, and
b
the report to HMRC in accordance with the requirements of Chapter 9 of this Part.
3
If the reporting fund provides a correct report as soon as reasonably possible, there is a minor breach.
4
If the reporting fund does not provide a correct report as soon as reasonably possible, there is a serious breach.