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The Personal and Occupational Pension Schemes (Indexation and Disclosure of Information) (Miscellaneous Amendments) Regulations 2005
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Increase in maximum level of civil penalties
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17. For regulation 11 of the Disclosure of Information Regulations(1) (penalties) substitute—
“Civil penalties
11. Where any person fails, without reasonable excuse, to comply with any requirement imposed under these Regulations, the Regulatory Authority may require that person to pay within 28 days a penalty which shall—
(a)in the case of an individual, not exceed £5,000, and
(b)in any other case, not exceed £50,000.”.
(1)
Regulation 11 was amended by S.I. 1997/786 and S.I. 1999/3198.
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