Section 197 | Penalty for disclosing a notice

(1)A recipient of an information notice is liable to a penalty if the recipient—

(a)fails to comply with a requirement imposed under section 185 (restriction on disclosure of notices), and

(b)does so without reasonable excuse.

(2)The penalty under subsection (1) is—

(a)in relation to a notice under section 183 (financial institutions), £1,000, or

(b)otherwise, £10,000.