(1) A company that has passed an opting-in resolution or an opting-out resolution must notify—
(a) the Panel, . . .
(b) . . ..
(2) Notification must be given within 15 days after the resolution is passed . . ..
(3) If a company fails to comply with this section, an offence is committed by—
(a) the company, and
(b) every officer of it who is in default.
(4) A person guilty of an offence under this section is liable on summary conviction to a fine not exceeding level 3 on the standard scale and, for continued contravention, a daily default fine not exceeding one-tenth of level 3
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