Regulation 2(2)
1. The daily penalty referred to in regulation 2(2) must be calculated by reference to the entries in Columns (1), (2) and (3) of the table below as follows—
(a)Column (1) specifies the manufacturer’s or supplier’s total annual turnover in the United Kingdom which is as stated in the manufacturer’s or supplier’s most recent individual accounts;
(b)Column (2) specifies the daily penalty which accrues for the first 14 days of contravention by reference to the manufacturer’s or supplier’s total annual turnover in the United Kingdom;
(c)Column (3) specifies the daily penalty which accrues on the 15th day, and each subsequent day, of contravention by reference to the manufacturer’s or supplier’s total annual turnover in the United Kingdom.
Column (1) Total annual turnover in the United Kingdom | Column (2) Daily penalty for first 14 days | Column (3) Daily penalty for subsequent days |
|---|---|---|
| Less than £100 million | £2,500 | £5,000 |
| £100 million or more | £5,000 | £10,000 |
2. For the purposes of the table, the total annual turnover in the United Kingdom of a new manufacturer or supplier will be assumed to be less than £100 million.
3. In this Schedule—
“accounting reference period” has the meaning given to it under section 391 of the Companies Act 2006(1) (accounting reference periods and accounting reference date);
“individual accounts” means accounts of the manufacturer or supplier prepared in accordance with section 394 of the Companies Act 2006(2) (duty to prepare individual accounts); and
“new manufacturer or supplier” means a manufacturer or supplier that is within its first accounting reference period.
Amended by S.I. 2012/2301.