Part 3: The Pensions Regulator Gathering information Section 112: Fixed penalty notices and escalating penalty notices 77A: Fixed penalty notices
New section 77A(1) details when a fixed penalty notice may be issued. New subsection (2) explains what is a fixed penalty notice and the effect of the notice. Subsection (3) provides a regulation making power to enable the Secretary of State to set the level of the penalty at a rate not exceeding £50,000 and subsection (4) details information which must be included in the fixed penalty notice.
	Section 77A(5) sets out the review and appeal rights where a recipient wishes to challenge the penalty by applying the existing provisions in sections 42, 43 and 44 of the Pensions Act 2008 relating to the recovery of the penalty and the recipient’s rights to ask for review of the penalty notice or appeal to a tribunal. Subsection (6) provides that this section does not apply in a case if a fixed penalty under section 40 of the Pensions Act 2008 (automatic enrolment) or section 17 of the Pension Schemes Act 2017 (master trusts) is applicable.