16(1)A deposit-taker may appeal against—E+W+N.I.
(a)a decision that a penalty is payable by the deposit-taker under paragraph 14, or
(b)a decision as to the amount of such a penalty.
(2)Notice of an appeal must be given to HMRC before the end of the period of 30 days beginning with the day on which the notification under paragraph 15 was given.
(3)Notice of an appeal must state the grounds of appeal.
(4)On an appeal under sub-paragraph (1)(a) that is notified to the tribunal (in accordance with Part 5 of TMA 1970: see below) the tribunal may confirm or cancel the decision.
(5)On an appeal under sub-paragraph (1)(b) that is notified to the tribunal, the tribunal may—
(a)confirm the decision, or
(b)substitute for the decision another decision that HMRC had power to make.
(6)Subject to this paragraph and paragraph 17, the provisions of Part 5 of TMA 1970 relating to appeals have effect in relation to appeals under this paragraph as they have effect in relation to an appeal against an assessment to income tax.