{
  "url": "https://openlegislation.uk/eu-decision-2017-35/article-3",
  "json_url": "https://openlegislation.uk/eu-decision-2017-35/article-3.json",
  "legislation": "eudn/2017/35",
  "legislation_title": "Decision (EU) 2017/2097 of the European Central Bank of 3 November 2017 on the methodology for calculating sanctions for infringements of the oversight requirements for systemically important payment systems (ECB/2017/35)",
  "legislation_url": "https://openlegislation.uk/eu-decision-2017-35",
  "path": "article/3",
  "kind": "article",
  "number": "3",
  "heading": "Calculation of the baseline amount of a sanction",
  "text": "1. The ECB shall calculate the baseline amount of any sanction to be imposed on a SIPS operator by reference to the turnover and the value of payments processed by the SIPS concerned.\n2. The baseline amount of the sanction shall represent 50 % of the sum of the following amounts:\n(a) 1 % of turnover; and\n(b) 0,0001 % of the value of payments processed.\n3. For periodic penalty payments, the baseline amount shall be divided by 180 to calculate the amount payable for each complete day of continued infringement.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eudn/2017/35/article/3",
    "retrieved_at": "2026-11-01T15:13:38.738685+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}