National Security and Investment Act 2021
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Change 1
41 Permitted maximum penalties
(1) The following are the permitted maximum fixed penalties for an offence under section 32 or 33— (a) if the offence is committed by a business, the higher of 5% of the total value of the turnover of the business (both in and outside the United Kingdom and including any business owned or controlled by the business) and £10 million, (b) if the offence is committed otherwise than by a business, £10 million. (2) The following are the permitted maximum amounts per day for a daily rate penalty for an offence under section 33— (a) if the offence is committed by a business, the higher of 0.1% of the total turnover of the business (both in and outside the United Kingdom and including any business owned or controlled by the business) and £200,000, (b) if the offence is committed otherwise than by a business, £200,000. (3) The permitted maximum fixed penalty for an offence under section 34(1)(a) is £30,000. (4) The permitted maximum amount per day for a daily rate penalty for an offence under section 34(1)(a) is £15,000. (5) The permitted maximum fixed penalty for an offence under section 34(1)(b) is £30,000. (6) The permitted maximum fixed penalty for an offence under section 34(2) is £30,000. (7) The permitted maximum fixed penalty for an offence under section 34(3) or (4) is £30,000. (8) The Secretary of State may by regulations— (a) provide that a person of a description specified in the regulations is or is not a business for the purposes of this section, (b) make provision for determining when a business is to be treated as controlled by another business for the purposes of this section, (c) make provision for determining the turnover (both in and outside the United Kingdom) of a business for the purposes of this section, (d) amend subsection (1) or (2) so as to alter the percentage for the time being specified there, (e) amend any of subsections (1) to (7) by substituting a different sum for any sum for the time being specified there. (9) The regulations may in particular— (a) include by virtue of subsection (8)(c) provision as to the amounts which are, or which are not, to be treated as comprising the turnover of a business, or provision as to the date or dates by reference to which the turnover of a business is to be determined, (b) make provision for the Secretary of State to determine matters of a description specified in the regulations (including the matters mentioned in paragraph (a)).
41 Permitted maximum penalties
(1) The following are the permitted maximum fixed penalties for an offence under section 32 or 33— (a) if the offence is committed by a business, the higher of 5% of the total value of the turnover of the business (both in and outside the United Kingdom and including any business owned or controlled by the business) and £10 million, (b) if the offence is committed otherwise than by a business, £10 million. (2) The following are the permitted maximum amounts per day for a daily rate penalty for an offence under section 33— (a) if the offence is committed by a business, the higher of 0.1% of the total turnover of the business (both in and outside the United Kingdom and including any business owned or controlled by the business) and £200,000, (b) if the offence is committed otherwise than by a business, £200,000. (3) The permitted maximum fixed penalty for an offence under section 34(1)(a) is £30,000. (4) The permitted maximum amount per day for a daily rate penalty for an offence under section 34(1)(a) is £15,000. (5) The permitted maximum fixed penalty for an offence under section 34(1)(b) is £30,000. (6) The permitted maximum fixed penalty for an offence under section 34(2) is £30,000. (7) The permitted maximum fixed penalty for an offence under section 34(3) or (4) is £30,000. (8) The Secretary of State may by regulations— (a) provide that a person of a description specified in the regulations is or is not a business for the purposes of this section, (b) make provision for determining when a business is to be treated as controlled by another business for the purposes of this section, (c) make provision for determining the turnover (both in and outside the United Kingdom) of a business for the purposes of this section, (d) amend subsection (1) or (2) so as to alter the percentage for the time being specified there, (e) amend any of subsections (1) to (7) by substituting a different sum for any sum for the time being specified there. (9) The regulations may in particular— (a) include by virtue of subsection (8)(c) provision as to the amounts which are, or which are not, to be treated as comprising the turnover of a business, or provision as to the date or dates by reference to which the turnover of a business is to be determined, (b) make provision for the Secretary of State to determine matters of a description specified in the regulations (including the matters mentioned in paragraph (a)).
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