72. Consequences of failure to make required disclosures

(1) Rules under section 70(requirement to disclose company name etc)may provide—
(a) that where a company fails, without reasonable excuse, to comply with any specified requirement of rules under that section a contravention of these Regulations is committed by—
(i) the company, and
(ii) every officer of the company who is in default,
(b) that a person who commits the contravention referred to in subsection (1)(a) shall be to a level 1 fine.
(2) The rules may provide that, for the purposes of any provision made under subsection (1), a shadow director of the company is to be treated as an officer of the company.
(3) In subsection (1)(a) "specified" means specified in the rules.