Fixing of penalties

(1) Where the supervisory authority decides to impose an administrative penalty on a DNFBP, other than a late payment penalty, for a disciplinary violation of a category specified in column 1 of the Schedule, it shall, after taking account of the factors specified in regulation 19, fix the amount of the administrative penalty within the range specified in column 2 of the Schedule. Schedule. Schedule. (2) Where the supervisory authority decides to impose a late payment penalty on a DNFBP, the late payment penalty shall be calculated as follows– (a) subject to paragraph (c), where the fee is paid 1-30 days after the due date, 10% of the fee payable; (b) subject to paragraph (c), for each additional period of 30 days, or any part, during which the fee remains unpaid, 10% of the fee payable; (c) for the purpose of paragraphs (a) and (b), where the late payment penalty calculated is less than $20, the late payment penalty payable shall be $20. Money Laundering and Terrorism (Prevention) 29 (3) The amounts payable under subregulation (2)(a) and (b) are cumulative, but may not exceed 100% of the fee payable.