extent U.K. + Part 1U.K.Public protection requirements

extent U.K. + Monetary penaltiesU.K.

18extent U.K. + Maximum amount of a non-compliance penaltyU.K.

section 18 1 + (1)The maximum amount of a non-compliance penalty that may be imposed on a person by a penalty notice is—

section 18 1 a + (a)in the case of a contravention of a requirement imposed by a notice under paragraph 3(1)(b) of Schedule 3 (requirement to attend and answer questions), £5,000;

section 18 1 b + (b)if, in a case to which paragraph (a) does not apply, the contravention in respect of which the penalty is imposed relates to standard duty premises, £10,000;

section 18 1 c + (c)if, in a case to which paragraph (a) does not apply, the contravention in respect of which the penalty is imposed relates to enhanced duty premises or a qualifying event, the amount determined in accordance with subsections (2) to (4).

section 18 2 + (2)Where the person does not have an accounting period or the person’s first accounting period has not ended, the maximum amount is £18 million.

section 18 3 + (3)In any other case, the maximum amount is whichever is the greater of—

section 18 3 a + (a)£18 million, and

section 18 3 b + (b)5% of the person’s qualifying worldwide revenue for the person’s most recent complete accounting period.

section 18 4 + (4)Where the person’s most recent complete accounting period is not a period of 12 months, the amount of the person’s qualifying worldwide revenue for the period is to be adjusted as follows—

section 18 4 a + (a)if the accounting period is less than a year, the amount is to be proportionately increased;

section 18 4 b + (b)if the accounting period is more than a year, the amount is to be proportionately reduced.

section 18 5 + (5)The Security Industry Authority must—

section 18 5 a + (a)produce a statement giving information about the amounts which it does, or does not, regard as comprising a person’s qualifying worldwide revenue for the purposes of this section;

section 18 5 b + (b)keep the statement under review;

section 18 5 c + (c)publish the statement (and any revised or replacement statement);

section 18 5 d + (d)send a copy of the statement (and any revised or replacement statement) to the Secretary of State.

section 18 6 + (6)Before producing a statement under subsection (5) (including a revised or replacement statement), the Security Industry Authority must consult the Secretary of State.

section 18 7 + (7)The Secretary of State must lay a copy of any statement received under subsection (5)(d) before Parliament.

section 18 8 + (8)The Secretary of State may by regulations amend—

section 18 8 a + (a)subsection (1)(a),

section 18 8 b + (b)subsection (1)(b),

section 18 8 c + (c)subsection (2), or

section 18 8 d + (d)subsection (3)(a),

so as to substitute a different figure for the figure for the time being specified.

section 18 9 + (9)term accounting period + In this section “accounting period”, in relation to a person, means a period in respect of which accounts are prepared in relation to that person.