10.—(1) The Secretary of State may impose a financial penalty on a relevant licensing body or a relevant person if the Secretary of State is satisfied that the relevant licensing body has failed to comply with its obligations under—
(a)regulation 4(3) (adoption of an approved code of practice), 5(4) (compliance with an imposed code of practice) or 7(5) (compliance with determination of the licensing code ombudsman); or
(b)regulation 4(1) (notification of code of practice), 6(4) (supply of information to code reviewer), 7(4) (supply of information to licensing code ombudsman) or 9(2) (supply of information in accordance with a requirement imposed by the Secretary of State).
(2) Any financial penalty imposed under paragraph (1)(a) shall not exceed £50,000.
(3) Any financial penalty imposed under paragraphs (1)(b) or (2), may comprise—
(a)a sum equivalent to level 5 on the standard scale; together with
(b)a daily default fine equivalent to one tenth of level 5 on the standard scale for each day until the required action is taken,
but the financial penalty shall not exceed £50,000 in total.