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10. If any person fails, without reasonable excuse, to comply with any requirement imposed under regulations 8 or 9 in respect of regulations 5, 6 or 7 of these Regulations, the Occupational Pensions Regulatory Authority(1) may require that person to pay within 28 days a penalty which shall—
(a)in the case of an individual, not exceed £1,000, and
(b)in any other case, not exceed £10,000.
See section 1 of the Pensions Act 1995.
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