Section 970

A company that has passed an opting-in resolution or an opting-out resolution must notify— the Panel, ... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Notification must be given within 15 days after the resolution is passed .... If a company fails to comply with this section, an offence is committed by— the company, and every officer of it who is in default. 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.

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Source: legislation.gov.uk · retrieved 2026-09-04