Regulation 29 Penalty for non-compliance
(1)
If a company fails to comply with regulation 28(3) an offence is committed by—
(a)
the company, and
(b)
every officer of the company who is in default.
(2)
A person guilty of an offence under paragraph (1) is liable on summary conviction to—
(a)
a fine not exceeding level 5 on the standard scale, and
(b)
for continued contravention, a daily default fine not exceeding one tenth of level 5 on the standard scale.