{
  "url": "https://openlegislation.uk/international-controlled-transaction-reporting-regulations-2026/regulation-20",
  "json_url": "https://openlegislation.uk/international-controlled-transaction-reporting-regulations-2026/regulation-20.json",
  "legislation": "uksi/2026/1156",
  "legislation_title": "The International Controlled Transaction Reporting Regulations 2026",
  "legislation_url": "https://openlegislation.uk/international-controlled-transaction-reporting-regulations-2026",
  "path": "regulation/20",
  "kind": "regulation",
  "number": "20",
  "heading": "Daily default penalty",
  "text": "(1) If the reporting entity fails to provide the specified information after the notice of an assessment of a penalty under regulation 19 has been issued, the reporting entity is liable to a further penalty, for each subsequent day on which the failure continues, of an amount (subject to regulation 26), not exceeding £60 for each such day.\n(2) In the case of a partnership, the further penalty in paragraph (1) is payable by every relevant partner.\n(3) Where the reporting entity 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 further penalty under paragraph (1) in respect of each member of each syndicate to which the failure relates.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2026/1156/regulation/20",
    "retrieved_at": "2026-11-10T03:36:48.679649+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}