Cap. 418 Art. 33Quantum of an administrative penalty.

(1) An administrative penalty imposed shall not, unless provided otherwise by or under this Act or by any other law enforced by the Authority, exceed three hundred and fifty thousand euro (€350,000)

for each infringement or failure to comply and, or twelve thousand euro (€12,000) for each day of infringement or non-compliance as the case may be:

Provided that if the act or omission which constitutes an infringement is committed by an undertaking and the Authority considers that such act or omission has especially significant effects on the market to the detriment of competitors and, or consumers, the stated amount that may be imposed as an administrative penalty may be increased to an amount that is not more than five per cent of the turnover of the undertaking in the calendar year immediately preceding the year when the infringement was committed: Provided further that any daily administrative penalty imposed may be back dated to the date of the commission or commencement of the infringement.

(2) In determining the amount of an administrative penalty, regard shall be had in particular to the nature and extent of the infringement, its duration and its impact on the market and on consumers.

(3) The Minister may make regulations to establish the administrative penalties that may be imposed by the Authority in relation to any law enforced by the Authority: Provided that the amount of administrative penalties that may be so prescribed shall not exceed the maximum amounts referred to under sub-article (1).

(4) An administrative penalty may be imposed with retroactive effect in accordance with the provisions of this Act even if the breach in question was subsequently rectified.