The Commissioner may give a relevant person a penalty notice if the Commissioner is satisfied on the balance of probabilities that the relevant person—
In this section "relevant person", in relation to the giving of a penalty notice, means a person who was a registered person at the time of the act or omission in relation to which the notice is given.
A penalty notice is a notice requiring the person to whom it is given to pay to the Commissioner—
The Commissioner may give a person who is not a relevant person a penalty notice if the Commissioner is satisfied on the balance of probabilities that the person has failed to comply with the duty imposed on the person by paragraph 6(2) of Schedule 5.
The Commissioner may give an unqualified person a penalty notice if the Commissioner is satisfied on the balance of probabilities that the person has committed an offence under section 91 or 92B.
In subsection (5) "unqualified person", in relation to the giving of a penalty notice, means a person who was not a qualified person at the time of the act or omission in relation to which the notice is given.
An amount specified in regulations under subsection (3)(a), and the amount specified in a variable penalty notice, must not exceed—
The Secretary of State may by regulations amend the amount for the time being specified in subsection (7)(b).
In this section and sections 92D to 92H—
"penalty notice" means a notice under this section;
"fixed penalty notice" and "variable penalty notice" have the meanings given by subsection (3).