54.—(1) This article applies where, before 1st April 2019—
(a)the Regulator gave written notice to a person (“A”) under regulation 52 of the 2006 Regulations of a decision to require A to pay a penalty; and
(b)on 1st April 2019—
(i)the period within which an appeal relating to that decision may be made has ended, or an appeal has been withdrawn or determined otherwise than in A’s favour; and
(ii)the penalty specified in the Regulator’s notice, or any part of it, is unpaid.
(2) The penalty or unpaid part of the penalty is payable to the FCA rather than to the Regulator.
(3) Where the penalty, or any part of it, is not paid by the date specified in the Regulator’s notice as the date by which it is required to be paid, the FCA may enforce the penalty or that part of it as a debt due to the FCA.
(4) For the purposes of Part 3 of Schedule 1ZA to the 2000 Act (penalties and fees)—
(a)any amounts received by the FCA by virtue of paragraph (2) are to be treated as amounts received by way of penalties imposed under the 2000 Act;
(b)any expenses incurred by the FCA in connection with the recovery of penalties payable to it by virtue of this article are to be treated as expenses incurred in connection with the recovery of penalties imposed under the 2000 Act.