Penalty for breach of the requirement to belong to a redress scheme
This section has no associated Explanatory Memorandum
8.—(1) Where an enforcement authority is satisfied on the balance of probabilities that a person has failed to comply with the requirement to belong to a redress scheme under article 3 (requirement to belong to a redress scheme: lettings agency work) or article 5 (requirement to belong to a redress scheme: property management work), the authority may by notice require the person to pay the authority a monetary penalty (a “monetary penalty”) of such amount as the authority may determine.
(2) The amount of the monetary penalty must not exceed £5,000.
(3) The Schedule provides for the procedure relating to the imposition of a monetary penalty.