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.