Sch. 8 para. 11 in force at 1.9.2021 for specified purposes by S.R. 2021/240, art. 2(1)(f)

Sch. 8 para. 11 in force at 1.10.2021 in so far as not already in force by S.R. 2021/271, art. 2(5)(c) (with art. 5)

http://www.legislation.gov.uk/ukpga/2021/1/schedule/8/paragraph/11/2022-08-01Pension Schemes Act 2021An Act to make provision about pension schemes.texttext/xmlenStatute Law Database2024-05-18Expert Participation2022-08-01SCHEDULESSCHEDULE 8The Pensions Regulator: Northern IrelandPART 1Amendments of the Pensions (Northern Ireland) Order 2005Fixed penalty notices and escalating penalty notices11

After Article 72 (penalties relating to Articles 67 to 70) insert—

Fixed penalty notices

72A1

The Regulator may issue a fixed penalty notice to a person if it considers that the person—

a

has failed to comply with a notice under Article 67 or 67A,

b

has failed to comply with a requirement under Article 70, or

c

has prevented or hindered an inspector exercising any power under Article 68, 69 or 70.

2

A fixed penalty notice is a notice requiring the person to whom it is issued to pay a penalty within the period specified in the notice.

3

The penalty—

a

is to be determined in accordance with regulations, and

b

must not exceed £50,000.

4

A fixed penalty notice must—

a

state the amount of the penalty;

b

state the date by which the penalty must be paid, which must be at least 28 days after the date on which the notice is issued;

c

state the period to which the penalty relates;

d

specify the failure or conduct to which the penalty relates;

e

state that the Regulator may issue an escalating penalty notice under Article 72B if the person fails to comply with a notice under Article 67 or 67A;

f

notify the person to whom the notice is issued of the review process under section 43 of the Pensions (No. 2) Act (Northern Ireland) 2008 and the right of referral to a tribunal under section 44 of that Act (as applied by paragraph (5)).

5

The following sections of the Pensions (No. 2) Act (Northern Ireland) 2008 apply to a penalty notice under this Article as they apply to a penalty notice under section 40 of that Act—

a

section 42 (penalty notices: recovery);

b

section 43 (review of penalty notices);

c

section 44 (references to First-tier Tribunal or Upper Tribunal).

6

This Article does not apply in a case where section 40 of the Pensions (No. 2) Act (Northern Ireland) 2008 applies.

Escalating penalty notices
72B1

The Regulator may issue an escalating penalty notice to a person if it considers that the person has failed to comply with a notice under Article 67 or 67A.

2

But the Regulator may not issue an escalating penalty notice to a person if—

a

the person has exercised the right of referral to a tribunal under section 44 of the Pensions (No. 2) Act (Northern Ireland) 2008 (as applied by Article 72A(5)) in respect of a fixed penalty notice issued under Article 72A in relation to that notice under Article 67 or 67A, and

b

the reference has not been determined.

3

An escalating penalty notice is a notice requiring a person to pay an escalating penalty if the person fails to comply with a notice under Article 67 or 67A before a specified date.

4

An escalating penalty is a penalty which is calculated by reference to a daily rate.

5

The daily rate—

a

is to be determined in accordance with regulations, and

b

must not exceed £10,000.

6

An escalating penalty notice must—

a

specify the failure to which the penalty relates;

b

state that, if the person fails to comply with the notice under Article 67 or 67A before a specified date, the person will be liable to pay an escalating penalty;

c

state the daily rate of the escalating penalty and the way in which the penalty is calculated;

d

state the date from which the escalating penalty will be payable, which must not be earlier than the date specified in the fixed penalty notice under Article 72A(4)(b);

e

state that the escalating penalty will continue to be payable at the daily rate until the date on which the person complies with the notice under Article 67 or 67A or such earlier date as the Regulator may determine;

f

notify the person to whom the notice is issued of the review process under section 43 of the Pensions (No. 2) Act (Northern Ireland) 2008 and the right of referral to a tribunal under section 44 of that Act (as applied by paragraph (7)).

7

The following sections of the Pensions (No. 2) Act (Northern Ireland) 2008 apply to an escalating penalty notice under this Article as they apply to an escalating penalty notice under section 41 of that Act—

a

section 42 (penalty notices: recovery);

b

section 43 (review of penalty notices);

c

section 44 (references to First-tier Tribunal or Upper Tribunal).

8

This Article does not apply in a case where section 41 of the Pensions (No. 2) Act (Northern Ireland) 2008 applies.

This XML file does not appear to have any style information associated with it. The document tree is shown below.
<akomaNtoso xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xsi:schemaLocation="http://docs.oasis-open.org/legaldocml/ns/akn/3.0 http://docs.oasis-open.org/legaldocml/akn-core/v1.0/cos01/part2-specs/schemas/akomantoso30.xsd">
<portion includedIn="http://www.legislation.gov.uk/id/ukpga/2021/1/schedule/8">
<meta>
<identification source="#source">
<FRBRWork>
<FRBRthis value="http://www.legislation.gov.uk/id/ukpga/2021/1/schedule/8"/>
<FRBRuri value="http://www.legislation.gov.uk/id/ukpga/2021/1/schedule/8"/>
<FRBRdate date="2021-02-11" name="enacted"/>
<FRBRauthor href="http://www.legislation.gov.uk/id/legislature/UnitedKingdomParliament"/>
<FRBRcountry value="GB-UKM"/>
<FRBRnumber value="1"/>
<FRBRname value="2021 c. 1"/>
<FRBRprescriptive value="true"/>
</FRBRWork>
<FRBRExpression>
<FRBRthis value="http://www.legislation.gov.uk/ukpga/2021/1/schedule/8/paragraph/11/2022-08-01"/>
<FRBRuri value="http://www.legislation.gov.uk/ukpga/2021/1/schedule/8/2022-08-01"/>
<FRBRdate date="2022-08-01" name="validFrom"/>
<FRBRauthor href="#source"/>
<FRBRlanguage language="eng"/>
</FRBRExpression>
<FRBRManifestation>
<FRBRthis value="http://www.legislation.gov.uk/ukpga/2021/1/schedule/8/paragraph/11/2022-08-01/data.akn"/>
<FRBRuri value="http://www.legislation.gov.uk/ukpga/2021/1/schedule/8/2022-08-01/data.akn"/>
<FRBRdate date="2024-11-08Z" name="transform"/>
<FRBRauthor href="http://www.legislation.gov.uk"/>
<FRBRformat value="application/akn+xml"/>
</FRBRManifestation>
</identification>
<lifecycle source="#source">
<eventRef date="2021-02-11" type="generation" eId="enacted-date" source="#source"/>
<eventRef date="2021-09-01" type="amendment" source="#source"/>
<eventRef date="2021-10-01" type="amendment" source="#source"/>
<eventRef date="2021-10-01" eId="effective-date-1" source="#source"/>
<eventRef date="2022-08-01" eId="effective-date-2" source="#source"/>
<eventRef date="2022-10-14" eId="effective-date-3" source="#source"/>
<eventRef date="2022-10-31" eId="effective-date-4" source="#source"/>
</lifecycle>
<analysis source="#source">
<restrictions source="#source">
<restriction refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#d4e76" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#schedule-8" refersTo="#ni" type="jurisdiction"/>
<restriction href="#schedule-8-paragraph-11" refersTo="#ni" type="jurisdiction"/>
</restrictions>
</analysis>
<temporalData source="#source">
<temporalGroup eId="period1">
<timeInterval start="#effective-date-1" refersTo="#period-concept1"/>
</temporalGroup>
<temporalGroup eId="period2">
<timeInterval start="#effective-date-2" refersTo="#period-concept2"/>
</temporalGroup>
<temporalGroup eId="period3">
<timeInterval start="#effective-date-2" end="#effective-date-3" refersTo="#period-concept3"/>
</temporalGroup>
<temporalGroup eId="period4">
<timeInterval start="#effective-date-2" end="#effective-date-4" refersTo="#period-concept4"/>
</temporalGroup>
</temporalData>
<references source="#source">
<TLCOrganization eId="source" href="http://www.legislation.gov.uk/id/publisher/StatuteLawDatabase" showAs="Statute Law Database"/>
<TLCLocation eId="e+w+s+ni" href="/ontology/jurisdictions/uk.EnglandWalesScotlandNorthernIreland" showAs="England, Wales, Scotland, Northern Ireland"/>
<TLCLocation eId="ni" href="/ontology/jurisdictions/uk.NorthernIreland" showAs="Northern Ireland"/>
<TLCConcept eId="period-concept1" href="/ontology/time/2021.10.01" showAs="since 2021-10-01"/>
<TLCConcept eId="period-concept2" href="/ontology/time/2022.08.01" showAs="since 2022-08-01"/>
<TLCConcept eId="period-concept3" href="/ontology/time/2022.08.01-2022.10.14" showAs="from 2022-08-01 until 2022-10-14"/>
<TLCConcept eId="period-concept4" href="/ontology/time/2022.08.01-2022.10.31" showAs="from 2022-08-01 until 2022-10-31"/>
</references>
<notes source="#source">
<note class="commentary I" eId="key-5d8a2d0038da33a52a4f648e5c493c8a">
<p>
<ref href="http://www.legislation.gov.uk/id/ukpga/2021/1/schedule/8/paragraph/11">Sch. 8 para. 11</ref>
in force at 1.9.2021 for specified purposes by
<ref href="http://www.legislation.gov.uk/id/nisr/2021/240">S.R. 2021/240</ref>
,
<ref href="http://www.legislation.gov.uk/id/nisr/2021/240/article/2/1/f">art. 2(1)(f)</ref>
</p>
</note>
<note class="commentary I" eId="M_I_96e51409-a14f-4d30-ed3c-38b4c6f21ae8">
<p>
Sch. 8 para. 11 in force at 1.10.2021 in so far as not already in force by
<ref href="http://www.legislation.gov.uk/id/nisr/2021/271">S.R. 2021/271</ref>
,
<ref href="http://www.legislation.gov.uk/id/nisr/2021/271/article/2/5/c">art. 2(5)(c)</ref>
(with
<ref href="http://www.legislation.gov.uk/id/nisr/2021/271/article/5">art. 5</ref>
)
</p>
</note>
</notes>
<proprietary xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:ukm="http://www.legislation.gov.uk/namespaces/metadata" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:dct="http://purl.org/dc/terms/" xmlns:atom="http://www.w3.org/2005/Atom" source="#source">
<ukl:RestrictStartDate value="2022-08-01"/>
<ukl:RestrictEndDate value="2022-10-14"/>
<dc:identifier>http://www.legislation.gov.uk/ukpga/2021/1/schedule/8/paragraph/11/2022-08-01</dc:identifier>
<dc:title>Pension Schemes Act 2021</dc:title>
<dc:description>An Act to make provision about pension schemes.</dc:description>
<dc:type>text</dc:type>
<dc:format>text/xml</dc:format>
<dc:language>en</dc:language>
<dc:publisher>Statute Law Database</dc:publisher>
<dc:modified>2024-05-18</dc:modified>
<dc:contributor>Expert Participation</dc:contributor>
<dct:valid>2022-08-01</dct:valid>
<atom:link rel="self" href="http://www.legislation.gov.uk/ukpga/2021/1/schedule/8/paragraph/11/2022-08-01/data.xml" type="application/xml"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/resources" href="http://www.legislation.gov.uk/ukpga/2021/1/resources" title="More Resources"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/notes" href="http://www.legislation.gov.uk/ukpga/2021/1/notes" title="Explanatory Notes"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/notes/toc" href="http://www.legislation.gov.uk/ukpga/2021/1/notes/contents" title="Explanatory Notes Table of Contents"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/act" href="http://www.legislation.gov.uk/ukpga/2021/1/2022-08-01" title="whole act"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/introduction" href="http://www.legislation.gov.uk/ukpga/2021/1/introduction/2022-08-01" title="introduction"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/body" href="http://www.legislation.gov.uk/ukpga/2021/1/body/2022-08-01" title="body"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/schedules" href="http://www.legislation.gov.uk/ukpga/2021/1/schedules/2022-08-01" title="schedules"/>
<atom:link rel="alternate" type="application/rdf+xml" href="http://www.legislation.gov.uk/ukpga/2021/1/schedule/8/paragraph/11/2022-08-01/data.rdf" title="RDF/XML"/>
<atom:link rel="alternate" type="application/akn+xml" href="http://www.legislation.gov.uk/ukpga/2021/1/schedule/8/paragraph/11/2022-08-01/data.akn" title="AKN"/>
<atom:link rel="alternate" type="application/xhtml+xml" href="http://www.legislation.gov.uk/ukpga/2021/1/schedule/8/paragraph/11/2022-08-01/data.xht" title="HTML snippet"/>
<atom:link rel="alternate" type="text/html" href="http://www.legislation.gov.uk/ukpga/2021/1/schedule/8/paragraph/11/2022-08-01/data.htm" title="Website (XHTML) Default View"/>
<atom:link rel="alternate" type="text/csv" href="http://www.legislation.gov.uk/ukpga/2021/1/schedule/8/paragraph/11/2022-08-01/data.csv" title="CSV"/>
<atom:link rel="alternate" type="application/pdf" href="http://www.legislation.gov.uk/ukpga/2021/1/schedule/8/paragraph/11/2022-08-01/data.pdf" title="PDF"/>
<atom:link rel="alternate" type="application/akn+xhtml" href="http://www.legislation.gov.uk/ukpga/2021/1/schedule/8/paragraph/11/2022-08-01/data.html" title="HTML5 snippet"/>
<atom:link rel="http://purl.org/dc/terms/tableOfContents" hreflang="en" href="http://www.legislation.gov.uk/ukpga/2021/1/contents/2022-08-01" title="Table of Contents"/>
<atom:link rel="http://purl.org/dc/terms/replaces" href="http://www.legislation.gov.uk/ukpga/2021/1/schedule/8/paragraph/11/2021-09-01" title="2021-09-01"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/ukpga/2021/1/schedule/8/paragraph/11/enacted" title="enacted"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/ukpga/2021/1/schedule/8/paragraph/11/2021-09-01" title="2021-09-01"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/ukpga/2021/1/schedule/8/paragraph/11/2021-10-01" title="2021-10-01"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/ukpga/2021/1/schedule/8/paragraph/11" title="current"/>
<atom:link rel="up" href="http://www.legislation.gov.uk/ukpga/2021/1/schedule/8/2022-08-01" title="Schedule 8"/>
<atom:link rel="prev" href="http://www.legislation.gov.uk/ukpga/2021/1/schedule/8/paragraph/10/2022-08-01" title="Paragraph; Schedule 8 Paragraph 10"/>
<atom:link rel="prevInForce" href="http://www.legislation.gov.uk/ukpga/2021/1/schedule/8/paragraph/10/2022-08-01" title="Paragraph; Schedule 8 Paragraph 10"/>
<atom:link rel="next" href="http://www.legislation.gov.uk/ukpga/2021/1/schedule/8/paragraph/12/2022-08-01" title="Paragraph; Schedule 8 Paragraph 12"/>
<atom:link rel="nextInForce" href="http://www.legislation.gov.uk/ukpga/2021/1/schedule/8/paragraph/12/2022-08-01" title="Paragraph; Schedule 8 Paragraph 12"/>
<ukm:PrimaryMetadata>
<ukm:DocumentClassification>
<ukm:DocumentCategory Value="primary"/>
<ukm:DocumentMainType Value="UnitedKingdomPublicGeneralAct"/>
<ukm:DocumentStatus Value="revised"/>
</ukm:DocumentClassification>
<ukm:Year Value="2021"/>
<ukm:Number Value="1"/>
<ukm:EnactmentDate Date="2021-02-11"/>
<ukm:ISBN Value="9780105701026"/>
</ukm:PrimaryMetadata>
<ukm:Notes>
<ukm:Note IdURI="http://www.legislation.gov.uk/id/ukpga/2021/1/notes"/>
<ukm:Alternatives>
<ukm:Alternative URI="http://www.legislation.gov.uk/ukpga/2021/1/pdfs/ukpgaen_20210001_en.pdf" Date="2021-03-05" Title="Explanatory Note" Size="3261244"/>
</ukm:Alternatives>
</ukm:Notes>
<ukm:OtherDocuments>
<ukm:OtherDocument URI="http://www.legislation.gov.uk/ukpga/2021/1/pdfs/ukpgaod_20210001_en_001.pdf" Date="2021-04-22" Title="Enactment Impact Assessment" Size="2617381"/>
</ukm:OtherDocuments>
<ukm:Alternatives>
<ukm:Alternative URI="http://www.legislation.gov.uk/ukpga/2021/1/pdfs/ukpga_20210001_en.pdf" Date="2021-02-11" Size="1259284"/>
</ukm:Alternatives>
<ukm:Statistics>
<ukm:TotalParagraphs Value="376"/>
<ukm:BodyParagraphs Value="167"/>
<ukm:ScheduleParagraphs Value="209"/>
<ukm:AttachmentParagraphs Value="0"/>
<ukm:TotalImages Value="0"/>
</ukm:Statistics>
</proprietary>
</meta>
<portionBody>
<hcontainer name="schedules" eId="d4e76" period="#period4">
<heading>SCHEDULES</heading>
<hcontainer name="schedule" eId="schedule-8" period="#period2">
<num>SCHEDULE 8</num>
<heading>The Pensions Regulator: Northern Ireland</heading>
<part eId="schedule-8-part-1" period="#period2">
<num>
<strong>PART 1</strong>
</num>
<heading>Amendments of the Pensions (Northern Ireland) Order 2005</heading>
<hcontainer name="crossheading" eId="schedule-8-part-1-crossheading-fixed-penalty-notices-and-escalating-penalty-notices" period="#period1">
<heading>
<em>Fixed penalty notices and escalating penalty notices</em>
</heading>
<paragraph eId="schedule-8-paragraph-11" period="#period1">
<num>
<noteRef href="#key-5d8a2d0038da33a52a4f648e5c493c8a" marker="I1" class="commentary I"/>
<noteRef href="#M_I_96e51409-a14f-4d30-ed3c-38b4c6f21ae8" marker="I2" class="commentary I"/>
11
</num>
<content>
<p>After Article 72 (penalties relating to Articles 67 to 70) insert—</p>
<p class="BlockAmendment">
<mod>
<quotedStructure class="secondary order main default" startQuote="" endQuote="">
<hcontainer name="crossheading" eId="d4e105">
<heading>
<em>Fixed penalty notices</em>
</heading>
<article eId="d4e109">
<num>72A</num>
<paragraph eId="d4e113">
<num>1</num>
<intro>
<p>The Regulator may issue a fixed penalty notice to a person if it considers that the person—</p>
</intro>
<subparagraph eId="d4e119">
<num>a</num>
<content>
<p>has failed to comply with a notice under Article 67 or 67A,</p>
</content>
</subparagraph>
<subparagraph eId="d4e125">
<num>b</num>
<content>
<p>has failed to comply with a requirement under Article 70, or</p>
</content>
</subparagraph>
<subparagraph eId="d4e131">
<num>c</num>
<content>
<p>has prevented or hindered an inspector exercising any power under Article 68, 69 or 70.</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="d4e137">
<num>2</num>
<content>
<p>A fixed penalty notice is a notice requiring the person to whom it is issued to pay a penalty within the period specified in the notice.</p>
</content>
</paragraph>
<paragraph eId="d4e143">
<num>3</num>
<intro>
<p>The penalty—</p>
</intro>
<subparagraph eId="d4e149">
<num>a</num>
<content>
<p>is to be determined in accordance with regulations, and</p>
</content>
</subparagraph>
<subparagraph eId="d4e155">
<num>b</num>
<content>
<p>must not exceed £50,000.</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="d4e161">
<num>4</num>
<intro>
<p>A fixed penalty notice must—</p>
</intro>
<subparagraph eId="d4e167">
<num>a</num>
<content>
<p>state the amount of the penalty;</p>
</content>
</subparagraph>
<subparagraph eId="d4e173">
<num>b</num>
<content>
<p>state the date by which the penalty must be paid, which must be at least 28 days after the date on which the notice is issued;</p>
</content>
</subparagraph>
<subparagraph eId="d4e179">
<num>c</num>
<content>
<p>state the period to which the penalty relates;</p>
</content>
</subparagraph>
<subparagraph eId="d4e185">
<num>d</num>
<content>
<p>specify the failure or conduct to which the penalty relates;</p>
</content>
</subparagraph>
<subparagraph eId="d4e191">
<num>e</num>
<content>
<p>state that the Regulator may issue an escalating penalty notice under Article 72B if the person fails to comply with a notice under Article 67 or 67A;</p>
</content>
</subparagraph>
<subparagraph eId="d4e197">
<num>f</num>
<content>
<p>notify the person to whom the notice is issued of the review process under section 43 of the Pensions (No. 2) Act (Northern Ireland) 2008 and the right of referral to a tribunal under section 44 of that Act (as applied by paragraph (5)).</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="d4e203">
<num>5</num>
<intro>
<p>The following sections of the Pensions (No. 2) Act (Northern Ireland) 2008 apply to a penalty notice under this Article as they apply to a penalty notice under section 40 of that Act—</p>
</intro>
<subparagraph eId="d4e209">
<num>a</num>
<content>
<p>section 42 (penalty notices: recovery);</p>
</content>
</subparagraph>
<subparagraph eId="d4e215">
<num>b</num>
<content>
<p>section 43 (review of penalty notices);</p>
</content>
</subparagraph>
<subparagraph eId="d4e221">
<num>c</num>
<content>
<p>section 44 (references to First-tier Tribunal or Upper Tribunal).</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="d4e227">
<num>6</num>
<content>
<p>This Article does not apply in a case where section 40 of the Pensions (No. 2) Act (Northern Ireland) 2008 applies.</p>
</content>
</paragraph>
</article>
</hcontainer>
<hcontainer name="crossheading" eId="d4e233">
<heading>
<em>Escalating penalty notices</em>
</heading>
<article eId="d4e237">
<num>72B</num>
<paragraph eId="d4e241">
<num>1</num>
<content>
<p>The Regulator may issue an escalating penalty notice to a person if it considers that the person has failed to comply with a notice under Article 67 or 67A.</p>
</content>
</paragraph>
<paragraph eId="d4e247">
<num>2</num>
<intro>
<p>But the Regulator may not issue an escalating penalty notice to a person if—</p>
</intro>
<subparagraph eId="d4e253">
<num>a</num>
<content>
<p>the person has exercised the right of referral to a tribunal under section 44 of the Pensions (No. 2) Act (Northern Ireland) 2008 (as applied by Article 72A(5)) in respect of a fixed penalty notice issued under Article 72A in relation to that notice under Article 67 or 67A, and</p>
</content>
</subparagraph>
<subparagraph eId="d4e259">
<num>b</num>
<content>
<p>the reference has not been determined.</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="d4e265">
<num>3</num>
<content>
<p>An escalating penalty notice is a notice requiring a person to pay an escalating penalty if the person fails to comply with a notice under Article 67 or 67A before a specified date.</p>
</content>
</paragraph>
<paragraph eId="d4e271">
<num>4</num>
<content>
<p>An escalating penalty is a penalty which is calculated by reference to a daily rate.</p>
</content>
</paragraph>
<paragraph eId="d4e277">
<num>5</num>
<intro>
<p>The daily rate—</p>
</intro>
<subparagraph eId="d4e283">
<num>a</num>
<content>
<p>is to be determined in accordance with regulations, and</p>
</content>
</subparagraph>
<subparagraph eId="d4e289">
<num>b</num>
<content>
<p>must not exceed £10,000.</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="d4e295">
<num>6</num>
<intro>
<p>An escalating penalty notice must—</p>
</intro>
<subparagraph eId="d4e301">
<num>a</num>
<content>
<p>specify the failure to which the penalty relates;</p>
</content>
</subparagraph>
<subparagraph eId="d4e307">
<num>b</num>
<content>
<p>state that, if the person fails to comply with the notice under Article 67 or 67A before a specified date, the person will be liable to pay an escalating penalty;</p>
</content>
</subparagraph>
<subparagraph eId="d4e313">
<num>c</num>
<content>
<p>state the daily rate of the escalating penalty and the way in which the penalty is calculated;</p>
</content>
</subparagraph>
<subparagraph eId="d4e319">
<num>d</num>
<content>
<p>state the date from which the escalating penalty will be payable, which must not be earlier than the date specified in the fixed penalty notice under Article 72A(4)(b);</p>
</content>
</subparagraph>
<subparagraph eId="d4e325">
<num>e</num>
<content>
<p>state that the escalating penalty will continue to be payable at the daily rate until the date on which the person complies with the notice under Article 67 or 67A or such earlier date as the Regulator may determine;</p>
</content>
</subparagraph>
<subparagraph eId="d4e331">
<num>f</num>
<content>
<p>notify the person to whom the notice is issued of the review process under section 43 of the Pensions (No. 2) Act (Northern Ireland) 2008 and the right of referral to a tribunal under section 44 of that Act (as applied by paragraph (7)).</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="d4e337">
<num>7</num>
<intro>
<p>The following sections of the Pensions (No. 2) Act (Northern Ireland) 2008 apply to an escalating penalty notice under this Article as they apply to an escalating penalty notice under section 41 of that Act—</p>
</intro>
<subparagraph eId="d4e343">
<num>a</num>
<content>
<p>section 42 (penalty notices: recovery);</p>
</content>
</subparagraph>
<subparagraph eId="d4e349">
<num>b</num>
<content>
<p>section 43 (review of penalty notices);</p>
</content>
</subparagraph>
<subparagraph eId="d4e355">
<num>c</num>
<content>
<p>section 44 (references to First-tier Tribunal or Upper Tribunal).</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="d4e361">
<num>8</num>
<content>
<p>This Article does not apply in a case where section 41 of the Pensions (No. 2) Act (Northern Ireland) 2008 applies.</p>
</content>
</paragraph>
</article>
</hcontainer>
</quotedStructure>
</mod>
</p>
</content>
</paragraph>
</hcontainer>
</part>
</hcontainer>
</hcontainer>
</portionBody>
</portion>
</akomaNtoso>