Article 59 - Financial penalties

(1) If the Regulatory Authority considers that a Person has contravened a Relevant Requirement, it may impose on it a financial penalty, in respect of the contravention, of such amount as it considers appropriate.
(2) The Regulatory Authority may not in respect of any contravention impose a financial penalty under this Article 59 in respect of any matter for which the Person has already been sanctioned by the Tribunal.
(3) A penalty under this Part 9 is payable to the Regulatory Authority unless the Regulatory Authority determines otherwise.
(4) Any penalty that is not paid within the period stipulated by the Regulatory Authority may on application to the Tribunal be recovered by the Regulatory Authority as a debt.
(5) Without limitation to Article 18, the Regulatory Authority may publish a statement describing the contravention to which this Article relates and the amount of any financial penalty imposed.