Regulation 51 Financial penalties
The Authority may impose a penalty of such amount as it considers appropriate on—
an electronic money issuer who has contravened a requirement imposed on it by or under these Regulations; F1...
an electronic money institution who has contravened a requirement imposed on it by or under section 312R of the 2000 Act; or
a person who has contravened regulation 63(1), 64(1) or 66(1) or (2).
A penalty under this regulation is a debt due from that person to the Authority, and is recoverable accordingly.
Annotations
Textual amendments
- F1
Word in reg. 51(1)(a) omitted (29.8.2023) by virtue of Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 56(a) (with s. 2(3)); S.I. 2023/779, reg. 4(zz)(iv)
- F2
Reg. 51(1)(aa) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 56(b) (with s. 2(3)); S.I. 2023/779, reg. 4(zz)(iv)