Penalty for default introduces fixed and daily penalties with caps for companies and defaulting officers. Section 172 is substituted to impose a penalty regime where no specific penalty exists: both the company and every officer in default are liable to an ... Summary
Penalty for default introduces fixed and daily penalties with caps for companies and defaulting officers.
Section 172 is substituted to impose a penalty regime where no specific penalty exists: both the company and every officer in default are liable to an initial fixed penalty and a continuing daily penalty for ongoing non compliance, with separate overall monetary caps for the company and for the officer in default.
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