(1) Paragraphs (2) to (6) apply if -
(a) the FCA is satisfied that a person ("A") had, before 1st April 2014, failed to comply with a requirement imposed on A under section 33A, 33B or 36A of the 1974 Act [Section 36A inserted by the Consumer Credit Act 2006, section 45.], and
(b) the OFT had not, before 1st April 2014, given a notice under section 39B(1) of the 1974 Act to A that the OFT was minded to impose a penalty on A under section 39A of the 1974 Act.
(2) The FCA may impose a penalty, in respect of the failure, on A under section 206 of the Act (financial penalties) [Amended by the Financial Services Act 2010, section 10, and the Financial Services Act 2012, Schedule 9, paragraphs 1 and 12.].
(3) For the purposes of this article, each reference in Part 14 of the Act and any provision made under Part 14 of the Act to an "authorised person" is to be treated as including a reference to A.
(4) In determining what if any financial penalty to impose on A, the FCA must have regard to -
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