763. Penalty notices.

The Secretary of State has power to make regulations restricting charges or imposing requirements on certain pension schemes1. The Pensions Regulator2 may3 issue a fixed penalty notice to a person if it is of the opinion that:


    (1)     the person has failed to comply with: (a) a compliance notice4; (b) a third party compliance notice5; (c) an unpaid contributions notice6; or (d) a notice7 requiring the provision of information so far as is relevant to the exercise of any of the Regulator's functions under or by virtue of Part 1 of the Pensions Act 20088;


    (2)     the person has