Regulation 8 Civil penalties
Where any person fails to comply with the requirements in a case where either regulation 3, 4 or 5 applies, the Occupational Pensions Regulatory Authorityf1 may require that person to pay within 28 days a penalty which shall—
(a)
in the case of an individual not exceed £5,000; and
(b)
in any other case, not exceed £50,000.
Annotations
Footnotes
- f1
-
The Occupational Pensions Regulatory Authority is established by virtue of section 1 of the Pensions Act 1995.