52.—(1) The Regulator may issue a penalty notice to an employer if it is of the opinion that the employer—
(a)has contravened section 50, or
(b)has failed to comply with a compliance notice under section 51.
(2) A penalty notice is a notice requiring the person to whom it is issued to pay a penalty within the period specified in the notice.
(3) The penalty—
(a)is to be determined in accordance with regulations, and
(b)must not exceed £50,000.
(4) A penalty notice must—
(a)state the amount of the penalty;
(b)state the date, which must be at least four weeks after the date on which the notice is issued, by which the penalty must be paid;
(c)specify the contravention or failure to which the notice relates;
(d)notify the employer of the review process under section 43 and the right to make a reference under section 44 (as applied by section 53).
(5) Section 42 (penalty notices: recovery) applies to a penalty payable under this section, and to a notice under this section, as it applies to a penalty payable under section 40, and to a notice under that section.