118.This section allows practice rules under section 44 to provide for the imposition of a financial penalty and for its withdrawal where the regulator considers it would not be reasonable to seek (or to continue) to seek payment. It also allows the regulator to recover the reasonable costs incurred in collecting the penalty. The Scottish Ministers may by regulations (subject to the negative procedure) specify the maximum amount, but they can only make such regulations with the agreement of the Lord President. Before making regulations, the Scottish Ministers must consult each category 1 regulator and any other persons or bodies they consider appropriate and publish any representations received.
119.An authorised legal business may appeal to a sheriff against any such financial penalty (or the amount of it).
Background Regulation of authorised legal businesses Section 45 – Financial sanctions