Regulation 11 Penalties
Where any person, without reasonable cause, fails to pay any fraud compensation levy which is payable under regulation 3(1), the Regulator may F1by notice in writing require that person to pay within 28 days, after the levy became due, 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.
Annotations
Textual amendments
- F1
Words in reg. 11 inserted (6.4.2009) by Occupational, Personal and Stakeholder Pensions (Miscellaneous Amendments) Regulations 2009 (S.I. 2009/615), regs. 1(2), 21(2)