PenaltiesU.K.
39(1)Regulations made by virtue of paragraph 37(2)(c) may, in particular—
(a)make provision about the maximum amount that may be imposed by way of penalty;
(b)make provision about procedure;
(c)make provision about the payment of interest;
(d)specify how a penalty (and any interest) may be recovered;
(e)make provision about payment of a penalty (and any interest) in instalments;
(f)require sums received by way of penalty (and interest) to be paid into—
(i)the Consolidated Fund, or
(ii)in relation to Northern Ireland, the Consolidated Fund of Northern Ireland;
(g)make provision enabling the Regulator to accept an enforcement undertaking from a relevant person and about the consequences of accepting such an undertaking.
(2)The regulations may provide for—
(a)publication by the Regulator of a statement of policy with respect to the imposition of penalties and the determination of their amount;
(b)revision of the statement of policy.
(3)Where regulations make provision by virtue of paragraph 37(2)(c) for the imposition of a penalty on a relevant person, the regulations—
(a)must also include provision enabling the relevant person to challenge the penalty in legal proceedings;
(b)may, in particular, specify the grounds on which and the time within which a penalty may be challenged and the remedies that may be given.
(4)Except as provided by the regulations, the validity of a penalty imposed by virtue of paragraph 37 is not to be questioned in any legal proceedings.
Commencement Information
I1Sch. 18 para. 39 in force at Royal Assent, see s. 334(2)(l)