Paragraph 30 Non-compliance penaltiesI1

If a person fails to comply with a compliance notice, restoration notice or third party undertaking, the regulator may, irrespective of whether a variable monetary penalty was also imposed, serve a notice on that person imposing a monetary penalty (“a non-compliance penalty”).

The amount of the non-compliance penalty must be determined by the regulator, and must be a percentage of the costs of fulfilling the remaining requirements of the compliance notice, restoration notice or third party undertaking.

The percentage must be determined by the regulator having regard to all the circumstances of the case and may, if appropriate, be 100%.

The notice must include information as to—

If the requirements of the compliance notice, restoration notice or third party undertaking are fulfilled before the time specified for payment of the non-compliance penalty, the penalty is not payable.

Following expiry of the specified payment period, the regulator may recover the non-compliance penalty as if payable under an order of the court.

A non-compliance penalty paid to the regulator under this paragraph must be paid into—