S.L. 370.33 Art. 4Power to impose penalties.

The competent authority shall, exercise its supervisory powers and its powers to impose penalties as follows:

(a) in the case of a legal person, the administrative pecuniary sanction of up to a maximum of five million euro (€5,000,000) or 10% of the total annual turnover of the legal person according to the last available accounts approved by the management body: Provided that where the legal person is a parent undertaking or a subsidiary of the parent undertaking which has to prepare consolidated financial accounts in accordance with Directive 2013/34/EU of the European Parliament and of the Council, the relevant total annual turnover shall be the total annual turnover or the corresponding type of income in accordance with the relevant Union law in the area of accounting according to the last available consolidated accounts approved by the management body of the ultimate parent undertaking;

(b) in the case of a natural person, the administrative pecuniary sanction of up to a maximum of five million euro (€5,000,000);

(c) as an alternative to paragraphs (a) and (b), the maximum administrative pecuniary sanctions shall be equivalent to at least twice the amount of the benefit derived from the infringement where that benefit can be determined, even if it exceeds the maximum amount of five million euro (€5,000,000).