[88A Financial penalties]
Pensions Act 2004 (2004 c 35) | Legislation

[Financial penalties]

[88A  Financial penalties]

[(1)     Where the Regulator is satisfied that by reason of an act this section applies to a person, the Regulator may issue a notice to the person requiring the person to pay a penalty in respect of that act of an amount specified in the notice within a period specified in the notice.

(2)     The amount of the penalty is to be an amount, not exceeding £1 million, determined by the Regulator.

(3)     Regulations may amend subsection (2) by substituting a higher amount for the amount for the time being specified in subsection (2).

(4)     The

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