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Article 350G Financial penalty: procedureF1C1

(1)

Before imposing a penalty on a recognised professional body, the Department must give notice to the body—

(a)

stating that the Department proposes to impose a penalty and the amount of the proposed penalty;

(b)

specifying the requirement in question;

(c)

stating why the Department is satisfied as mentioned in Article 350F(1); and

(d)

specifying a period within which the body may make written representations with respect to the proposal.

(2)

The period specified under paragraph (1)(d)—

(a)

must begin with the date on which the notice is given to the body; and

(b)

must not be less than 28 days.

(3)

On the expiry of that period, the Department must decide—

(a)

whether to impose a penalty; and

(b)

whether the penalty should be the amount stated in the notice or a reduced amount.

(4)

The Department must give notice of the decision to the body.

(5)

Where the Department decides to impose a penalty, the notice under paragraph (4) must—

(a)

state that the Department has imposed a penalty on the body and its amount;

(b)

specify the requirement in question and state—

(i)

why it appears to the Department that the requirement has not been complied with; or

(ii)

where, by that time, the requirement has been complied with, why it appeared to the Department when giving the notice under paragraph (1) that the requirement had not been complied with; and

(c)

specify a time by which the penalty is required to be paid.

(6)

The time specified under paragraph (5)(c) must be at least three months after the date on which the notice under paragraph (4) is given to the body.

(7)

Where the Department decides to impose a penalty, the Department must publish the notice under paragraph (4).

(8)

The Department may rescind or reduce a penalty imposed on a recognised professional body; and, where doing so, the Department—

(a)

must give the body notice that the penalty has been rescinded or reduced to the amount stated in the notice; and

(b)

must publish the notice; and it must (if possible) be published in the same manner as that in which the notice under paragraph (4) was published.

Annotations

Textual amendments

F1

Arts. 350D-350K and cross-heading inserted (1.4.2016) by Insolvency (Amendment) Act (Northern Ireland) 2016 (c. 2), ss. 16(1), 28(2); S.R. 2016/203, art. 2

Modifications

C1

Arts. 349-350T applied (with modifications) (4.1.2024) by S.I. 2021/716, reg. 37A (as inserted by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 12)

Notes on Part XII

Modifications

C1

Pts. 11-14 modified by S.R. 2004/307 (as amended (1.10.2006) by Limited Liability Partnerships (Amendment) Regulations (Northern Ireland) 2006 (S.R. 2006/377), reg. 3, Sch. 2; (temp.) (27.4.2020 retrospective) by virtue of Corporate Insolvency and Governance Act 2020 (c. 12), Sch. 11 para. 8(1)(2), 14 (with ss. 2(2), 5(2)); (26.6.2020) by The Limited Liability Partnerships (Amendment etc.) Regulations 2020 (S.I. 2020/643), reg. 1(1), Sch. 2 (with reg. 3); (16.2.2021) by The Limited Liability Partnerships (Amendment etc.) Regulations 2021 (S.I. 2021/60), reg. 1(1), Sch. 2 (with reg. 4(2)))

C2

Pts. 11-14 applied (with modifications) (4.1.2024) by S.I. 2021/716, Sch. 1A para. 3 (as inserted by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), reg. 1(2), Sch. 1)