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National Security and Investment Act 2021

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This is the original version (as it was originally enacted).

45Monetary penalties: cost recovery

This section has no associated Explanatory Notes

(1)The Secretary of State may give a notice to a person requiring the person to pay to the Secretary of State the costs incurred by the Secretary of State in relation to the imposition of a monetary penalty on that person under section 40.

(2)A notice under subsection (1) is referred to in this Act as a cost recovery notice.

(3)The reference to “costs” in subsection (1) includes, in particular—

(a)investigation costs,

(b)administration costs,

(c)costs of obtaining expert advice (including legal advice).

(4)A cost recovery notice must specify the amount to be paid and include information as to—

(a)the grounds for giving the notice,

(b)how payment may be made,

(c)the period within which payment is to be made (which must be at least 28 days),

(d)rights of appeal,

(e)the consequences of non-payment.

(5)A person required to pay an amount to the Secretary of State under this section may require the Secretary of State to give a detailed breakdown of that amount.

(6)Costs imposed under this section are to be paid out of—

(a)the partnership assets where imposed on a partnership, and

(b)the funds of the association where imposed on an unincorporated association other than a partnership.

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