Section 171

For section 15 of the Economic Crime (Transparency and Enforcement) Act 2022 substitute— A person who, without reasonable excuse, fails to comply with a notice under section 12 or 13 commits an offence. Where the offence is committed by a legal entity, the offence is also committed by every officer of the entity who is in default. 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. A person guilty of an offence under this section is liable— 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); on summary conviction in Scotland, to imprisonment for a term not exceeding 12 months or a fine not exceeding the statutory maximum (or both); 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); on conviction on indictment, to imprisonment for a term not exceeding two years or a fine (or both). 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. Where the offence is committed by a legal entity, the offence is also committed by every officer of the entity who is in default. A person guilty of an offence under this section is liable— on summary conviction in England and Wales, to a fine; on summary conviction in Scotland, to a fine not exceeding level 5 on the standard scale; on summary conviction in Northern Ireland, to a fine not exceeding level 5 on the standard scale. 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. Where the offence is committed by a legal entity, the offence is also committed by every officer of the entity who is in default. A person guilty of an offence under this section is liable— 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); on summary conviction in Scotland, to imprisonment for a term not exceeding 12 months or a fine not exceeding the statutory maximum (or both); 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); on conviction on indictment, to imprisonment for a term not exceeding two years or a fine (or both).

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