Part 1Pension scheme membership for jobholders
Chapter 3Safeguards: employment and pre-employment
Prohibited recruitment conduct
52Penalty notices
(1)
The Regulator may issue a penalty notice to an employer if the Regulator is of the opinion that the employer—
(a)
has contravened section 50, or
(b)
has failed to comply with a compliance notice under section 51.
(2)
A penalty notice is a notice requiring the person to whom it is issued to pay a penalty within the period specified in the notice.
(3)
The penalty—
(a)
is to be determined in accordance with regulations, and
(b)
must not exceed £50,000.
(4)
A penalty notice must—
(a)
state the amount of the penalty;
(b)
state the date, which must be at least 4 weeks after the date on which the notice is issued, by which the penalty must be paid;
(c)
specify the contravention or failure to which the notice relates;
(d)
notify the employer of the review process under section 43 and the right to make a reference under section 44 (as applied by section 53).
(5)
Section 42 (penalty notices: recovery) applies to a penalty payable under this section, and to a notice under this section, as it applies to a penalty payable under section 40, and to a notice under that section.