(1) The Authority may impose a penalty of such amount as it considers appropriate on -
(a) an electronic money issuer who has contravened a requirement imposed on it by or under these Regulations;
(aa) an electronic money institution who has contravened a requirement imposed on it by or under section 312R of the 2000 Act; or
(b) a person who has contravened regulation 63(1), 64(1) or 66(1) or (2).
(2) A penalty under this regulation is a debt due from that person to the Authority, and is recoverable accordingly.