Section 52 — Pensions Act 2008: Penalty notices

Penalty notices 52 1 The Regulator may issue a penalty notice to an employer if the Regulator is of the opinion that the employer—

a has contravened section 50, or b has failed to comply with a compliance notice under section 51.

2 A penalty notice is a notice requiring the person to whom it is issued to pay a penalty within the period specified in the notice.

3 The penalty—

a is to be determined in accordance with regulations, and b must not exceed £50,000.

4 A penalty notice must—

a state the amount of the penalty;

b state the date, which must be at least 4 weeks after the date on which the notice is issued, by which the penalty must be paid;

c specify the contravention or failure to which the notice relates;

d notify the employer of the review process under section 43 and the right to make a reference under section 44 (as applied by section 53).

5 Section 42 (penalty notices: recovery) applies to a penalty payable under this section, and to a notice under this section, as it applies to a penalty payable under section 40, and to a notice under that section.