[(1) This section applies if the Secretary of State is satisfied—
(a) that a recognised professional body has failed to comply with a requirement to which this section applies, and
(b) that, in all the circumstances of the case, it is appropriate to impose a financial penalty on the body.
(2) This section applies to a requirement imposed on the recognised professional body—
(a) by a direction given under section 391D, or
(b) by a provision of this Act or of subordinate legislation under this Act.
(3) The Secretary of State may impose a financial penalty, in respect of the failure, of such amount as the Secretary of State considers appropriate.
(4) In deciding what amount is appropriate, the Secretary of State—
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