SCHEDULE 4Designation of alternative arrangements etc.
Penalties9
1
The Regulator may require the operator to pay a penalty where the operator has failed to comply—
a
with a notice to provide information issued under paragraph 7; or
b
a direction given under paragraph 8.
2
A penalty—
a
must be paid to the Regulator, and
b
may be enforced by the Regulator as a debt.
3
The Regulator must prepare a statement of principles which it must apply in determining—
a
whether to impose a penalty, and
b
the amount of the penalty.
4
The Regulator must—
a
publish the statement on its website;
b
send a copy to the Treasury;
c
review the statement from time to time and revise it if necessary (and paragraphs (a) and (b) apply to any such revision), and
d
when applying the statement, apply the version in force at the time when the failure to comply with the relevant requirements set out in sub-paragraph (1)(a) and (b) occurred.