Part 5: Miscellaneous Chapter 1: Competition in connection with motor fuel Section 312: Penalties for failure to comply with notices under section 311
This section sets out that the CMA can impose financial penalties on undertakings that fail to comply with an information notice issued under section 311 of this Act without reasonable excuse. This includes:
failing to comply with an information notice under section 311;
destroying, falsifying or concealing any document that is required as part of an information notice under section 311;
providing information which is false or misleading;
providing information which is false or misleading to another undertaking knowing that the information was for the purpose of responding to an information notice under section 311 (subsection 1).
	Subsection (2) sets out a penalty imposed is to be of such amount as the CMA considers appropriate.
	Subsection (4) defines the maximum amounts of fixed and daily rate penalties that the CMA can impose under subsection (1). It sets out that the maximum fixed amount is an amount equal to 1% of the total value of the undertaking’s turnover (both inside and outside the UK) or a daily rate up to 5% of the total value of the undertaking’s daily turnover (both inside and outside the UK).
	Subsection (5) sets out how the CMA will calculate daily rates for the purpose of imposing a monetary penalty. Daily penalties are calculated from the date that the undertaking is served notice of the penalty by the CMA. Daily penalties will accumulate until the person complies with the requirement (e.g. the requested information is provided). The CMA has the discretion to determine an earlier date for the amount payable to cease accumulating.
	Subsection (6) to (8) allows for the Secretary of State, by way of regulations, to determine the turnover of an undertaking. The power is subject to the negative procedure.