Section 77A Fixed penalty noticesF1

has failed to comply with a notice under section 72 or 72A,

has failed to comply with a requirement under section 75, or

has prevented or hindered an inspector exercising any power under section 73, 74 or 75.

is to be determined in accordance with regulations, and

must not exceed £50,000.

state the amount of the penalty;

state the date by which the penalty must be paid, which must be at least 28 days after the date on which the notice is issued;

state the period to which the penalty relates;

specify the failure or conduct to which the penalty relates;

state that the Regulator may issue an escalating penalty notice under section 77B if the person fails to comply with a notice under section 72 or 72A;

notify the person to whom the notice is issued of the review process under section 43 of the Pensions Act 2008 and the right of referral to a tribunal under section 44 of that Act (as applied by subsection (5)).

section 42 (penalty notices: recovery);

section 43 (review of penalty notices);

section 44 (references to First-tier Tribunal or Upper Tribunal).