Regulation 58 Insolvency: consumers liable to penalty or interestI1

United Kingdom

(1)

This regulation applies where, in relation to a person (“the consumer”)—

(a)

the Commissioners assess and notify an amount due by way of penalty from the consumer for conduct falling within paragraph 98 (evasion) or 101 (incorrect notification for exclusion or exemption) of the Act;

(b)

that amount or any penalty interest it carries remains unpaid; and

(c)

an insolvency procedure applies to the consumer.

(2)

The person appointed for the purposes of the application of the insolvency procedure (“the appointee”) must notify the Commissioners of this in writing and that notification must also include the date the insolvency procedure first applied.

(3)

This notification must be delivered to the Commissioners within 21 days starting with the day after the appointment takes effect or notice of the penalty or interest reaches the appointee, whichever is the later.

(4)

Subject to this regulation, the appointee shall be treated to the extent and for the duration of the appointment as the same person as the consumer for the purposes of Part IX of the Act (civil penalties).

(5)

An insolvency procedure is applied to a person for the purposes of this regulation in the circumstances described by paragraphs 120(7) to 120(9) of the Act (insolvency procedures for the purposes of this regulation).

Annotations

Commencement

I1: Reg. 58 in force at 1.4.2001, see reg. 1