C1C6Part 3Civil sanctions

Annotations:
Modifications etc. (not altering text)

Supplementary and general

C3C2C4C569Payment of penalties into Consolidated Fund etc

1

Where pursuant to any provision made under or by virtue of this Part a regulator receives—

a

a fixed monetary penalty, a variable monetary penalty or a non-compliance penalty under section 45(1),

b

any interest or other financial penalty for late payment of such a penalty, or

c

a sum paid in discharge of liability to a fixed monetary penalty pursuant to section 40(2)(b),

the regulator must pay it into the relevant Fund.

2

In subsection (1) “relevant Fund” means—

a

in a case where the regulator has functions only in relation to Wales, the Welsh Consolidated Fund,

b

in a case where the regulator has functions only in relation to Scotland, the Scottish Consolidated Fund,

c

in a case where the regulator has functions only in relation to Northern Ireland, the Consolidated Fund of Northern Ireland, and

d

in any other case, the Consolidated Fund.