170 Up-rating of certain penalties.U.K.
[F1(1)In section 23(8) of the Taxes Act 1988 (maximum penalty for agents failing to make certain payments on behalf of principals), for “£50” there shall be substituted “£300”.]
F2(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3)In section 306(6) of that Act (maximum penalty for false certificates or statements relating to investment in corporate trades), for the words “£250 or, in the case of fraud, £500” there shall be substituted “£3,000”.
(4)In—
(a)section 619(7) of that Act (maximum penalty for false statements or representations relating to relief for qualifying premiums),
(b)section 653 of that Act (maximum penalty for statements or representations about personal pension schemes), and
(c)section 658(5) of that Act (maximum penalty for false statements or representations relating to purchased life annuities),
for “£500” there shall be substituted “£3,000”.
(5)In paragraph 2(4) of Schedule 19A to that Act and Schedule 16A to the M1Finance Act 1973 (maximum penalty for incorrect return byLloyd’s agent), for the words “£500 in the case of fraud and £250 in the case of negligence” there shall be substituted “£3,000”.
(6)This section shall apply in relation to things done or omitted on or after the day on which this Act is passed.
Textual Amendments
F1S. 170(1) repealed (1.5.1995 with effect as mentioned in s. 39(4)(5) of the amending Act) by 1995 c. 4, s. 162, Sch. 29 Pt. VIII(1), note
F2S. 170(2) repealed (16.7.1992 with effect in accordance with s. 32 of the repealing Act) by Finance (No. 2) Act 1992 (c. 48), ss. 32, 82, Sch. 18 Pt. VII(4)
Marginal Citations