923. Punishment for attempted evasion of restrictions.

(1) Subject to the terms of any directions made under section 904 or 924 a person commits a contravention of these Regulations if he—
(a) exercises or purports to exercise any right to dispose of any shares which, to his knowledge, are for the time being subject to the restrictions of this Part or of any right to be issued with any such shares, or
(b) votes in respect of any such shares (whether as holder or proxy), or appoints a proxy to vote in respect of them, or
(c) being the holder of any such shares, fails to notify of their being subject to those restrictions any person whom he does not know to be aware of that fact but does know to be entitled (apart from the restrictions) to vote in respect of those shares whether as holder or as proxy, or
(d) being the holder of any such shares, or being entitled to any right to be issued with other shares in right of them, or to receive any payment on them (otherwise than in a liquidation), enters into any agreement which is void under section 922(2) or 922(3).
(2) Subject to the terms of any directions made under section 904 or 924 if shares in a company are issued in contravention of the restrictions, a contravention of these Regulations is committed by—
(a) the company, and
(b) every officer of the company who is in default.
(3) A person who commits a contravention of these Regulations under this section shall be liable to a level 3 fine.