Part 3Civil sanctions

Supplementary and general

69Payment of penalties into Consolidated Fund etc

(1)

Where pursuant to any provision made under or by virtue of this Part a regulator receives—

(a)

a fixed monetary penalty, a variable monetary penalty or a non-compliance penalty under section 45(1),

(b)

any interest or other financial penalty for late payment of such a penalty, or

(c)

a sum paid in discharge of liability to a fixed monetary penalty pursuant to section 40(2)(b),

the regulator must pay it into the relevant Fund.

(2)

In subsection (1) “relevant Fund” means—

(a)

in a case where the regulator has functions only in relation to Wales, the Welsh Consolidated Fund,

(b)

in a case where the regulator has functions only in relation to Scotland, the Scottish Consolidated Fund,

(c)

in a case where the regulator has functions only in relation to Northern Ireland, the Consolidated Fund of Northern Ireland, and

(d)

in any other case, the Consolidated Fund.