A company that has passed an opting-in resolution or an opting-out resolution must notify—
the Panel, ...
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Notification must be given within 15 days after the resolution is passed ....
If a company fails to comply with this section, an offence is committed by—
the company, and
every officer of it who is in default.
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 on the standard scale.