SCHEDULES
SCHEDULE 11Further provision about Monitor’s enforcement powers
PART 1Discretionary requirements
5Non-compliance penalties
1
If a person fails to comply with a compliance requirement or a restoration requirement Monitor may impose a monetary penalty on that person of such amount as Monitor may determine (a “non-compliance penalty”).
2
Where Monitor proposes to impose a non-compliance penalty on a person Monitor must give notice to that person (a “non-compliance notice”).
3
A non-compliance notice must—
a
specify the amount of the non-compliance penalty,
b
set out the grounds for imposing the penalty,
c
state how payment of the penalty may be made,
d
state the period (“the payment period”) within which payment must be made,
e
state any discount applicable for early payment of the penalty,
f
set out the consequences of a failure to pay within the payment period (including any increase in the amount payable), and
g
explain the right of appeal conferred by paragraph 6.
4
The payment period must be not less than 28 days beginning with the day after that on which the non-compliance notice is received.
5
If the whole or any part of a non-compliance penalty is not paid by the time it is required to be paid Monitor may increase the amount payable by no more than 50% of the amount of the penalty.
6
Monitor may by notice to a person on whom a non-compliance penalty has been imposed reduce the amount of the penalty or extend the payment period.