Article 12 Amendment of article 23 (civil penalties)

After article 23(12) insert—

“(12A)

Where a defaulter^f1 does not pay all or any part of the penalty to the Administrator by the date before which the civil penalty must be paid—

(a)

the sum outstanding is to increase at the rate specified in paragraph (12B) and the increase is to be calculated in accordance with paragraph (12C); and

(b)

the increased sum is a debt due from the defaulter to the Administrator until it has been paid in full.

(12B)

The rate for the purposes of paragraph (12A) is 5 percentage points above the base rate of the Bank of England as at the date before which the civil penalty must be paid to the Administrator.

(12C)

The increase is to be calculated on a daily basis beginning on the date before which the civil penalty must be paid to the Administrator, and ending on the date on which payment is received by the Administrator.”.