Fixed monetary penaltiesE+W+N.I.
10(1)The regulations may make provision conferring on an administrator the power by notice to impose a fixed monetary penalty on a person who breaches regulations under this Schedule.E+W+N.I.
(2)The regulations may only confer such a power in relation to a case where the administrator is satisfied on the balance of probabilities that the breach has occurred.
(3)For the purposes of this Schedule a “fixed monetary penalty” is a requirement to pay to an administrator a penalty of an amount specified in or determined in accordance with the regulations.
(4)The regulations may not provide for the imposition of a fixed monetary penalty in excess of £5,000.