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Part 28 U.K.Takeovers etc

Modifications etc. (not altering text)

Chapter 1U.K.The Takeover Panel

Modifications etc. (not altering text)

InformationU.K.

949Offence of disclosure in contravention of section 948U.K.

(1)A person who discloses information in contravention of section 948 is guilty of an offence, unless—

(a)he did not know, and had no reason to suspect, that the information had been provided as mentioned in section 948(1), or

(b)he took all reasonable steps and exercised all due diligence to avoid the commission of the offence.

(2)A person guilty of an offence under this section is liable—

(a)on conviction on indictment, to imprisonment for a term not exceeding two years or a fine (or both);

(b)on summary conviction—

(i)in England and Wales, to imprisonment for a term not exceeding twelve months or to a fine not exceeding the statutory maximum (or both);

(ii)in Scotland or Northern Ireland, to imprisonment for a term not exceeding six months, or to a fine not exceeding the statutory maximum (or both).

(3)Where a company or other body corporate commits an offence under this section, an offence is also committed by every officer of the company or other body corporate who is in default.