Clause 42
Regulatory Enforcement and Sanctions Bill [Lords]
6:00 pm
Mark Prisk (Shadow Minister, Business, Enterprise and Regulatory Reform; Hertford and Stortford, Conservative)
I beg to move amendment No. 42, in clause 42, page 19, line 35, after ‘determine’, insert
‘subject to a maximum amount to be prescribed by order by a Minister of the Crown’.
Amendment No. 42, ironically to clause 42, deals with discretionary requirements and tries to put some form of cap, some maximum limit, on the amount of fine. At the moment, the regulator can impose whatever fine it wishes. There is no stated maximum in the Bill. Given that the regulator has wide powers to investigate, effectively prosecute and be the jury, it seems inappropriate to provide unlimited powers regarding the scale of the fine. There needs to be some appropriateness, not least given the principles that we are meant to be following in terms of Hampton and Macrory. Therefore, the purpose of the amendment is, first, to send that signal. There is a need for the regulators to have a clearly defined limit, but the amendment would allow the Minister to set that limit, and do so by order. There is some flexibility; we have not sought to put a figure on that limit. I would be interested to hear the Minister’s response to the points that underscore the amendment.