This section has no associated Explanatory Memorandum
12.—(1) The Finance Act 2001 is amended as follows.
(2) In section 26 (security for levy), in subsection (4), for “level 5 on the standard scale” substitute “£20,000”.
(3) In Schedule 6 (aggregates levy: evasion, misdeclaration and neglect)—
(a)in paragraph 1(3)(a), for “the statutory maximum” substitute “£20,000”;
(b)in paragraph 1(4), for “the statutory maximum” (in each place where it occurs) substitute “the amount of £5,000 mentioned in paragraph 1(3)(a)”;
(c)in paragraph 2(3)(a), for “the statutory maximum” substitute “£20,000”;
(d)in paragraph 2(4) (in the words following paragraph (b)), for “the statutory maximum” substitute “the amount of £20,000 mentioned in sub-paragraph (3)(a)”;
(e)in paragraph 3(3)(a), for “the statutory maximum” substitute “£20,000”;
(f)in paragraph 3(4), for “the statutory maximum” (in each place where it occurs) substitute “the amount of £20,000 mentioned in sub-paragraph (3)(a)”;
(g)in paragraph 4(2), for “level 5 on the standard scale” substitute “£20,000”;
(h)in paragraph 4(3), for “level 5 on the standard scale” (in each place where it occurs) substitute “the amount of £20,000 mentioned in sub-paragraph (2)”.