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Pensions Act 2008

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This is the original version (as it was originally enacted).

52Penalty notices
This section has no associated Explanatory Notes

(1)The Regulator may issue a penalty notice to an employer if the Regulator 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 4 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.

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