Part 1

Public protection requirements

Monetary penalties

Maximum amount of a non-compliance penalty
18
1
The maximum amount of a non-compliance penalty that may be imposed on a person by a penalty notice is—
a
in the case of a contravention of a requirement imposed by a notice under paragraph 3(1)(b) of Schedule 3 (requirement to attend and answer questions), £5,000;
b
if, in a case to which paragraph (a) does not apply, the contravention in respect of which the penalty is imposed relates to standard duty premises, £10,000;
c
if, in a case to which paragraph (a) does not apply, the contravention in respect of which the penalty is imposed relates to enhanced duty premises or a qualifying event, the amount determined in accordance with subsections (2) to (4).
2
Where the person does not have an accounting period or the person’s first accounting period has not ended, the maximum amount is £18 million.
3
In any other case, the maximum amount is whichever is the greater of—
a
£18 million, and
b
5% of the person’s qualifying worldwide revenue for the person’s most recent complete accounting period.
4
Where the person’s most recent complete accounting period is not a period of 12 months, the amount of the person’s qualifying worldwide revenue for the period is to be adjusted as follows—
a
if the accounting period is less than a year, the amount is to be proportionately increased;
b
if the accounting period is more than a year, the amount is to be proportionately reduced.
5
The Security Industry Authority must—
a
produce a statement giving information about the amounts which it does, or does not, regard as comprising a person’s qualifying worldwide revenue for the purposes of this section;
b
keep the statement under review;
c
publish the statement (and any revised or replacement statement);
d
send a copy of the statement (and any revised or replacement statement) to the Secretary of State.
6
Before producing a statement under subsection (5) (including a revised or replacement statement), the Security Industry Authority must consult the Secretary of State.
7
The Secretary of State must lay a copy of any statement received under subsection (5)(d) before Parliament.
8
The Secretary of State may by regulations amend—
a
subsection (1)
(a)
,
b
subsection (1)
(b)
,
c
subsection (2), or
d
subsection (3)
(a)
,
so as to substitute a different figure for the figure for the time being specified.
9
In this section “accounting period”, in relation to a person, means a period in respect of which accounts are prepared in relation to that person.
S. 18 in force at Royal Assent for specified purposes, see s. 37(2)