Imposition of fixed monetary penalties

(1) The Commission may by notice impose a fixed monetary penalty on a person if satisfied beyond reasonable doubt that the person—

  (a) has committed a prescribed offence under this Act, or

  (b) has (otherwise than by committing an offence under this Act) contravened a prescribed restriction or requirement imposed by or by virtue of this Act.

(2) The Commission may by notice impose a fixed monetary penalty on a registered party if satisfied beyond reasonable doubt that a person holding an office within that party—

  (a) has committed a prescribed offence under this Act, or

  (b) has (otherwise than by committing an offence under this Act) contravened a prescribed restriction or requirement imposed by or by virtue of this Act.

(3) The Commission may by notice impose a fixed monetary penalty on a recognised third party if satisfied beyond reasonable doubt that the responsible person—

  (a) has committed a prescribed offence under this Act, or

  (b) has (otherwise than by committing an offence under this Act) contravened a prescribed restriction or requirement imposed by or by virtue of this Act.

(4) The Commission may by notice impose a fixed monetary penalty on a permitted participant if satisfied beyond reasonable doubt that the responsible person—

  (a) has committed a prescribed offence under this Act, or

  (b) has (otherwise than by committing an offence under this Act) contravened a prescribed restriction or requirement imposed by or by virtue of this Act.

(5) For the purposes of this Schedule a “fixed monetary penalty” is a requirement to pay to the Commission a penalty of a prescribed amount.

(6) In the case of a fixed monetary penalty imposed under subparagraph (1)(a), (2)(a), (3)(a) or (4)(a), where the offence in question is—

  (a) triable summarily (whether or not it is also triable on indictment), and

  (b) punishable on summary conviction by a fine (whether or not it is also punishable by a term of imprisonment), the amount of the penalty may not            exceed the maximum amount of that fine.