(1)A company that has passed an opting-in resolution or an opting-out resolution must notify—
(a)the Panel, F1...
F1(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2)Notification must be given within 15 days after the resolution is passed F2....
(3)If a company fails to comply with this section, an offence is committed by—
(a)the company, and
(b)every officer of it who is in default.
(4)A person guilty of an offence under this section is liable on summary conviction to a fine not exceeding level 3 on the standard scale and, for continued contravention, a daily default fine not exceeding one-tenth of level 3 on the standard scale.
Textual Amendments
F1S. 970(1)(b) and word omitted (31.12.2020) by virtue of The Takeovers (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/217), regs. 1, 10(a); 2020 c. 1, Sch. 5 para. 1(1)
F2Words in s. 970(2) omitted (31.12.2020) by virtue of The Takeovers (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/217), regs. 1, 10(b); 2020 c. 1, Sch. 5 para. 1(1)
Modifications etc. (not altering text)
C1Ss. 966-973 applied (with modifications) (1.10.2009) by The Unregistered Companies Regulations 2009 (S.I. 2009/2436), regs. 3-5, Sch. 1 para. 14(1) (with transitional provisions and savings in regs. 7, 9, Sch. 2)
