Regulation 34 Payment of interest and payment in instalments

If the whole or any part of a penalty is not paid by the date by which it is required to be paid, the unpaid balance from time to time carries interest at the rate for the time being specified in section 17 of the Judgments Act 1838^f1.

If an application is made under paragraph (13) of regulation 31 in relation to a penalty, the penalty is not required to be paid until the application has been determined.

If the Regulator grants an application under that paragraph in relation to a penalty but any portion of the penalty is not paid by the date specified in relation to it by the Regulator under that paragraph, the Regulator may, where it considers it appropriate, require so much of the penalty as has not already been paid to be paid immediately.