# Banking Act 2009, Section 222: Financial penalty


(1) Banknote regulations may enable the Bank of England to impose a penalty on an authorised bank that fails to comply with banknote regulations or rules.
(2) A penalty—
(a) shall be paid to the Bank of England, and
(b) is enforceable by the Bank of England as a debt.
(3) Banknote regulations must establish a method for determining the maximum amount of a penalty.

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Source: https://www.legislation.gov.uk/ukpga/2009/1/section/222 (the official version)
Page: https://openlegislation.uk/banking-act-2009/section-222
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.