SCHEDULES
SCHEDULE 18Power to restrict charges or impose requirements in relation to schemes
3Compliance
1
2
The regulations may in particular—
a
b
c
d
provide for the making of a reference to the First-tier Tribunal or Upper Tribunal in respect of the issue of a penalty notice or the amount of a penalty;
e
confer other functions on the Regulator.
3
The regulations may make provision for determining the amount, or the maximum amount, of a penalty in respect of a failure or contravention.
4
But the amount of a penalty imposed under the regulations in respect of a failure or contravention must not exceed—
a
£5,000, in the case of an individual, and
b
£50,000, in any other case.