Building Safety Act 2022
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Change 1
145 New build home warranties: financial penalties
(1) The Secretary of State may by regulations make provision for and in connection with the imposition of a financial penalty in cases where the Secretary of State, or a person designated by the Secretary of State, is satisfied beyond reasonable doubt that a person has, without reasonable excuse, failed to comply with section 144(2). (2) The regulations may include provision— (a) about the procedure to be followed in imposing penalties; (b) about the amount of penalties; (c) for the imposition of interest or additional penalties for late payment; (d) conferring rights of appeal against penalties. (3) The regulations must provide that the amount of a financial penalty (excluding interest or any additional penalty) may not exceed the greater of— (a) 10% of the value of the relevant interest at the time the person granted or disposed of the relevant interest, and (b) £10,000.
145 New build home warranties: financial penalties
(1) The Secretary of State may by regulations make provision for and in connection with the imposition of a financial penalty in cases where the Secretary of State, or a person designated by the Secretary of State, is satisfied beyond reasonable doubt that a person has, without reasonable excuse, failed to comply with section 144(2). (2) The regulations may include provision— (a) about the procedure to be followed in imposing penalties; (b) about the amount of penalties; (c) for the imposition of interest or additional penalties for late payment; (d) conferring rights of appeal against penalties. (3) The regulations must provide that the amount of a financial penalty (excluding interest or any additional penalty) may not exceed the greater of— (a) 10% of the value of the relevant interest at the time the person granted or disposed of the relevant interest, and (b) £10,000.
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