34.—(1) The Authority may impose a penalty of such amount as it considers appropriate on a person which has contravened a requirement imposed on it by or under these Regulations.
(2) A penalty imposed under this regulation is payable to the Authority.
(3) The Authority may not take action against a person under this regulation after the end of the period of two years beginning with the first day on which it knew of the contravention unless proceedings against that person, in respect of the contravention, were begun before the end of that period.
(4) For the purposes of paragraph (3)—
(a)the Authority is to be treated as knowing of a contravention if it has information from which the contravention can reasonably be inferred; and
(b)proceedings against a person in respect of a contravention are to be treated as begun when a warning notice is given to it under regulation 35.