Paragraph 1 Imposition of a fixed monetary penaltyI1

The regulator may by notice impose a fixed monetary penalty on a person (“fixed monetary penalty”) in relation to an offence under section 45AA(8) of the 1990 Act.

Before doing so, the regulator must be satisfied beyond reasonable doubt that the person has committed the offence.

The amount of penalty to be paid to the regulator is specified in the table in Part 2 of this Schedule.