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SCHEDULES

SCHEDULE 7U.K. Insurance premium tax

Modifications etc. (not altering text)

C1Sch. 7 extended (19.3.1997) by 1997 c. 16, s. 50, Sch. 5 Pt. I paras. 1, 4(2)

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.