Paragraph 20

In subsection (3) of section 102 of the M1Customs and Excise Management Act 1979 (penalty for failure to deliver up excise licence following dishonour of cheque) after paragraph (a) there shall be inserted the following paragraph—

“(aa)

where the licence is a licence under the Vehicles (Excise) Act 1971, a penalty of whichever is the greater of—

(i)

level 3 on the standard scale, or

(ii)

an amount equal to five times the annual rate of duty that was payable on the grant of the licence or would have been so payable if it had been taken out for a period of twelve months.”