Monetary penalty: amount
3.—(1) The amount of a monetary penalty imposed on an awarding body under section 38 of the Act must not exceed 10% of the awarding body’s turnover.
(2) The turnover of an awarding body for the purposes of paragraph (1) is to be determined in accordance with regulations 4 and 5.
(3) Subject to paragraph (1), the amount may be whatever Qualifications Wales decide is appropriate in all the circumstances of the case.