Background Financial sanctions Section 83 – Financial sanctions
203.This section amends section 19 of the 2010 Act (financial sanctions) to provide that where an approved regulator collects a financial penalty from one of its licensed providers, the approved regulator may retain a sum from the penalty (that is paid to the Scottish Ministers) or recover a sum from the licensed provider in relation to the regulator’s reasonable expenditure incurred in collecting the penalty.
204.The amendments also allow an approved regulator to discontinue its attempts to recover a penalty from one of its licensed providers or to reinstate its attempts that were previously discontinued in each case where the regulator considers it is reasonable to do so.