SCHEDULES

SCHEDULE 7U.K. Insurance premium tax

Part IVU.K. Penalties

Civil penaltiesU.K.

20U.K.For the purposes of paragraphs 14(3), 15(5), 17(3), 18(2) and 19(4) above—

(a)an insufficiency of funds available for paying any amount is not a reasonable excuse, and

(b)where reliance is placed on any other person to perform any task, neither the fact of that reliance nor any conduct of the person relied upon is a reasonable excuse.