[142S Power to impose penalty or issue censure]

[Failure of parent undertaking to comply with direction]

[142S  Power to impose penalty or issue censure]

[(1)     This section applies if a regulator is satisfied that a person who is or has been a qualifying parent undertaking (“P”) has contravened a requirement of a direction given to P by that regulator as a result of section 142L(2)(d) or (3)(d).

(2)     The regulator may impose a penalty of such amount as it considers appropriate on—

(a)     P, or

(b)     any person who was knowingly concerned in the contravention.

(3)     The regulator may, instead of imposing a penalty on a person, publish a statement censuring

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