S.L. 545.45 Art. 8Administrative penalties.

(1) The Regulator may impose an administrative penalty upon any person who breaches any provision of these regulations or who fails to comply with any directive or decision given by the Regulator in ensuring compliance with these regulations.

(2) An administrative penalty imposed under sub-regulation

(1) shall not exceed one hundred thousand euro (€100,000).

(3) An administrative penalty imposed under sub-regulation

(1) shall follow the applicable procedure thereto in accordance with article 13 of the Act and any appeal therefrom shall be made in terms (SUSTAINABILITY CRITERIA)

of Part VI of the Act.