Part 3: The Pensions Regulator Contribution notices where avoidance of employer debt etc Section 106: Sanctions for failure to comply with a contribution notice 42B Financial penalty for failure to comply with a section 38 contribution notice
Subsection (5) of this section inserts new section 42B into the Pensions Act 2004.
	Subsection (1) of the new section 42B states that this section applies where a contribution notice is issued to a person under section 38 of the Pensions Act 2004.
	Subsection (2) outlines the parameters of the offence, that if a person fails to comply with a contribution notice, and does not have a reasonable excuse, then the financial penalty in section 88A of the Pensions Act 2004 applies.
	Subsection (3) provides that the Regulator cannot issue a warning notice in respect of the civil penalty as it applies by virtue of subsection (2), if an application has been made under section 41(7) of the Pensions Act 2004 and the application has not been determined, withdrawn or abandoned.
	Subsection (4) provides the meaning of "warning notice."