Interpretation
This section has no associated Explanatory Memorandum
2. In these Regulations—
“conduct” means an act or omission;
“financial penalty” means a requirement to pay to the registrar a penalty, of an amount determined by the registrar in accordance with regulation 7, which may be—
(a)
a fixed amount (“a fixed penalty”);
(b)
an amount calculated by reference to a daily rate (“a daily rate penalty”); or
(c)
a combination of a fixed penalty and a daily rate penalty.