If the F1 appropriate regulator considers that an authorised person has contravened F2a relevant requirement imposed on the person, it may impose on him a penalty, in respect of the contravention, of such amount as it considers appropriate.

If the FCA considers that a person other than an authorised person has contravened a relevant Part 5A requirement imposed on the person, it may impose on the person a penalty, in respect of the contravention, of such amount as it considers appropriate.

F4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

A penalty under this section is payable to the F5regulator that imposed the penalty.