Regulation 13 Penalties
Where any person fails, without reasonable cause, to comply with the requirement to pay a levy under regulation 2, 5 or 12 of these Regulations, the Regulatory Authority may require that person to pay, within 28 days, a penalty which shall—
(a)
in the case of an individual, not exceed £1,000; and
(b)
in any other case, not exceed £10,000.