(1) Paragraphs (2) to (4) apply if, before 1st April 2014 -
(a) the OFT had given A a penalty notice under section 39A of the 1974 Act [Inserted by the Consumer Credit Act 2006, section 52.], and
(b) the appeal period in relation to that notice had expired.
(2) The penalty is payable to the FCA (rather than the OFT).
(3) If a defaulter (within the meaning of section 39A of the 1974 Act) had not paid to the OFT before 1st April 2014 the penalty imposed under that section -
(a) the defaulter must pay the unpaid balance to the FCA;
(b) section 39A(5) of the 1974 Act continues to apply to the defaulter with the following modifications -
(i) omit "to the OFT";
(ii) the reference to the OFT in paragraph (b) is to be treated as a reference to the FCA.
(4) For the purposes of Part 3 of Schedule 1ZA to the Act (penalties and fees) [Substituted by the Financial Services Act 2012, Schedule 3.] -
(a) any amounts received by the FCA by virtue of this article are to be treated as amounts received by
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