Paragraph 4 Imposition of a fixed monetary penaltyI1

This paragraph applies where the regulator is satisfied on the balance of probabilities that a person has committed an offence under Part 2 of this Order.

The regulator may by notice impose on that person a requirement to pay a monetary penalty to the regulator of £1000 where the person is an individual and £3000 where the person is a body corporate, partnership or unincorporated association (“a fixed monetary penalty”).

A fixed monetary penalty may not be imposed on more than one occasion in relation to the same act or omission.

The regulator may recover any fixed monetary penalty imposed under this paragraph as if payable under an order of the court.

A fixed monetary penalty paid to the regulator under this paragraph must be paid into—