InterpretationU.K.
This
adran has no associated
Memorandwm Esboniadol
2. In these Regulations—
“the ECTEA” means the Economic Crime (Transparency and Enforcement) Act 2022;
“conduct” means an act or omission;
“financial penalty” means a requirement to pay to the registrar a penalty, of an amount determined by the registrar in accordance with regulation 7, which may be—
(a)
a fixed amount (“a fixed penalty”);
(b)
an amount calculated by reference to a daily rate (“a daily rate penalty”); or
(c)
a combination of a fixed penalty and a daily rate penalty.
Commencement Information
I1Reg. 2 in force at 23.6.2023, see reg. 1(1)