# The Pensions Dashboards Regulations 2022, Regulation 31: Penalty notices


(1) A penalty notice is a notice requiring the person to whom it is issued to pay a penalty within the period specified in the notice.
(2) Subject to regulation 33(1) and (3)(b), the Regulator may issue a penalty notice to—
(a) any trustee or manager of a pension scheme where the Regulator is of the opinion that the trustee or manager has—
(i) failed to comply with a compliance notice under regulation 29, or
(ii) contravened a provision under Part 3;
(b) a third party where the Regulator is of the opinion that the third party failed to comply with a third party compliance notice under regulation 30.
(3) The amount of the penalty is to be determined by the Regulator, but in respect of a failure or contravention must not exceed—
(a) £5,000 if the person is an individual, or
(b) £50,000 if the person is a body corporate (including corporate trustees), a Scottish partnership, or any other person who is not an individual.
(4) A penalty notice must—
(a) state the amount of the penalty;
(b) state the date by which the penalty must be paid, which must be at least 4 weeks after the date on which the penalty notice is issued;
(c) state the period (if any) to which the penalty relates;
(d) if the penalty notice is issued under paragraph 2(a)(i) or (2)(b), specify the failure to which the penalty notice relates;
(e) if the notice is issued under paragraph 2(a)(ii), specify the provision which has been contravened;
(f) notify the person to whom the notice is issued of the review process under regulation 34 and the right of referral to a tribunal under regulation 35.
(5) Where the Regulator may issue more than one penalty notice to a person because there has been—
(a) more than one failure to comply with the same compliance notice, or
(b) more than one contravention of a provision under Part 3 (whether more than one contravention of the same provision or contraventions of different provisions),
the penalty notices may be issued in a single document.
(6) If a single document is issued as mentioned in paragraph (5), the information required by paragraph (4) may be provided in the document by reference to more than one penalty.

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Source: https://www.legislation.gov.uk/ukdsi/2022/9780348239645/regulation/31 (the official version)
Page: https://openlegislation.uk/draft-pensions-dashboards-regulations-2022/regulation-31
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.