Regulation 19 Penalties for failure to provide specified information

If a reporting entity fails to comply with regulations 4(2), 7, 8(1) or (3), or 10(2), the reporting entity is liable to a penalty of £300 in respect of each accounting period or underwriting year to which the failure relates.

In the case of a partnership, the penalty in paragraph (1) is payable by every relevant partner.

Where the reporting entity in paragraph (1) is a managing agent and the failure relates to specified information which is required in respect of one or more members of a syndicate, the reporting entity is liable to the penalty under paragraph (1) in respect of each member of each syndicate to which the failure relates.