61.—(1) A person is liable to a civil penalty where the person fails to comply, or to comply on time, with the requirements of an information notice given by a Regulator under article 50(1).
(2) The civil penalty is—
(a)£5,000[F1, ] and
(b)a daily penalty at a daily rate of £500 for each day that the person fails to comply with the requirements of the information notice, beginning with the day on which the initial notice under article 53(4) is given, up to a maximum of £45,000.