This section applies if the Secretary of State is satisfied—
that a recognised professional body has failed to comply with a requirement to which this section applies, and
that, in all the circumstances of the case, it is appropriate to impose a financial penalty on the body.
This section applies to a requirement imposed on the recognised professional body—
by a direction given under section 391D, or
by a provision of this Act or of subordinate legislation under this Act.
The Secretary of State may impose a financial penalty, in respect of the failure, of such amount as the Secretary of State considers appropriate.
In deciding what amount is appropriate, the Secretary of State—
must have regard to the nature of the requirement which has not been complied with, and
must not take into account the Secretary of State's costs in discharging functions under this Part.
A financial penalty under this section is payable to the Secretary of State; and sums received by the Secretary of State in respect of a financial penalty under this section (including by way of interest) are to be paid into the Consolidated Fund.
In sections 391G to 391I, "penalty" means a financial penalty under this section.