SCHEDULES

SCHEDULE 2Trading schemes

Part 3Administration and enforcement

Penalties

29

1

The regulations may provide that a person is liable to a financial or other penalty if the person fails to comply with the requirements of a trading scheme.

2

The regulations may—

a

specify the amount of any financial penalty, or

b

provide for the amount of any financial penalty to be determined in accordance with the regulations.

3

If the regulations provide for financial penalties to be payable to a person other than a national authority, they must provide for that person to pay the sums received to the national authority or authorities specified in or determined in accordance with the regulations.