The Economic Crime and Corporate Transparency Act 2023 (Financial Penalty) Regulations 2024
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Change 1
5 Warning and penalty notices
(1) After the end of the period stated in the warning notice, the registrar, if satisfied beyond reasonable doubt that the person has engaged in conduct amounting to a relevant offence, may issue a penalty notice to the person who was issued the warning notice. (2) The penalty notice referred to in paragraph (1) above must be in writing and must set out— (a) the grounds for issuing the financial penalty; (b) whether the financial penalty is a fixed penalty, a daily rate penalty or a combination of both and how it is calculated; (c) in the case of a fixed penalty, the amount of the penalty; (d) in the case of a daily rate penalty, the amount of the daily rate, the day on which the amount started to accumulate and the day on which, or the circumstances in which, it ceased to accumulate; (e) how payment may be made; (f) the period within which payment is to be made (which period must not end sooner than the end of the period of 28 days beginning on the date the penalty notice is given); (g) rights of appeal; and (h) the consequences of non-payment.
5 Warning and penalty notices
(1) After the end of the period stated in the warning notice, the registrar, if satisfied beyond reasonable doubt that the person has engaged in conduct amounting to a relevant offence, may issue a penalty notice to the person who was issued the warning notice. (2) The penalty notice referred to in paragraph (1) above must be in writing and must set out— (a) the grounds for issuing the financial penalty; (b) whether the financial penalty is a fixed penalty, a daily rate penalty or a combination of both and how it is calculated; (c) in the case of a fixed penalty, the amount of the penalty; (d) in the case of a daily rate penalty, the amount of the daily rate, the day on which the amount started to accumulate and the day on which, or the circumstances in which, it ceased to accumulate; (e) how payment may be made; (f) the period within which payment is to be made (which period must not end sooner than the end of the period of 28 days beginning on the date the penalty notice is given); (g) rights of appeal; and (h) the consequences of non-payment.
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