20 Penalties
Child Trust Funds Act 2004 (2004 c 6) | Legislation

Penalties

20 Ìý±Ê±ð²Ô²¹±ô³Ù¾±±ð²õ

(1)     A penalty of £300 may be imposed on any person who fraudulently—

(a)     applies to open a child trust fund,

(b)     makes a withdrawal from a child trust fund otherwise than as permitted by regulations under section 3(4)(d), or

(c)     secures the opening of a child trust fund by the Inland Revenue.

(2)     A penalty not exceeding £3,000 may be imposed on—

(a)     an account provider who fraudulently or negligently makes an incorrect statement or declaration in connection with a claim under section 8 or 9 or regulations under section 10 or 13, and

(b)     any person who fraudulently or negligently provides incorrect information in response to a requirement imposed by or under regulations under section 15.

(3)     Penalties may be imposed on—

(a)     an account provider

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