For section 15 of the Economic Crime (Transparency and Enforcement) Act 2022 substitute—

“15Failure to comply with notice under section 12 or 13

(1)

A person who, without reasonable excuse, fails to comply with a notice under section 12 or 13 commits an offence.

(2)

Where the offence is committed by a legal entity, the offence is also committed by every officer of the entity who is in default.

(3)

It is a defence for a person charged with an offence under this section to prove that the requirement to give information was frivolous or vexatious.

(4)

A person guilty of an offence under this section is liable—

(a)

on summary conviction in England and Wales, to imprisonment for a term not exceeding the general limit in a magistrates’ court or a fine (or both);

(b)

on summary conviction in Scotland, to imprisonment for a term not exceeding 12 months or a fine not exceeding the statutory maximum (or both);

(c)

on summary conviction in Northern Ireland, to imprisonment for a term not exceeding 6 months or a fine not exceeding the statutory maximum (or both);

(d)

on conviction on indictment, to imprisonment for a term not exceeding two years or a fine (or both).

15AFalse statements under section 12 or 13: basic offence

(1)

A person who is given a notice under section 12 or 13 commits an offence if, in purported compliance with the notice and without reasonable excuse, the person makes a statement that is misleading, false or deceptive in a material particular.

(2)

Where the offence is committed by a legal entity, the offence is also committed by every officer of the entity who is in default.

(3)

A person guilty of an offence under this section is liable—

(a)

on summary conviction in England and Wales, to a fine;

(b)

on summary conviction in Scotland, to a fine not exceeding level 5 on the standard scale;

(c)

on summary conviction in Northern Ireland, to a fine not exceeding level 5 on the standard scale.

15BFalse statements under section 12 or 13: aggravated offence

(1)

A person who is given a notice under section 12 or 13 commits an offence if, in purported compliance with the notice, the person makes a statement that the person knows to be misleading, false or deceptive in a material particular.

(2)

Where the offence is committed by a legal entity, the offence is also committed by every officer of the entity who is in default.

(3)

A person guilty of an offence under this section is liable—

(a)

on summary conviction in England and Wales, to imprisonment for a term not exceeding the general limit in a magistrates’ court or a fine (or both);

(b)

on summary conviction in Scotland, to imprisonment for a term not exceeding 12 months or a fine not exceeding the statutory maximum (or both);

(c)

on summary conviction in Northern Ireland, to imprisonment for a term not exceeding 6 months or a fine not exceeding the statutory maximum (or both);

(d)

on conviction on indictment, to imprisonment for a term not exceeding two years or a fine (or both).”