Regulation 11 Amendment to article 105 (provision of false or misleading information: participants in the Trading Schemes)

After article 105(10) insert—

“(11)

The administrator may impose the penalties in paragraph (12) on a participant in the Trading Schemes where an officer of a company who is made available by that participant in accordance with article 87 (power to question officers of a company) provides false or misleading information when questioned under that article.

(12)

The penalties are—

(a)

the financial penalty of £750,000 or, if lower, 0.5% of the turnover of the participant in the Trading Schemes for its financial year ending during the scheme year to which the false or misleading information relates;

(b)

publication; and

(c)

a block.”.