(1) The Companies Act 2006 is amended as follows.

(2) In the heading to Part 36 (Offences under the Companies Acts), at the end insert "and financial penalties".

(3) After section 1132 insert -

"Financial penalties

1132A Power to make provision for financial penalties

(1) The Secretary of State may by regulations make provision conferring power on the registrar to impose a financial penalty on a person if satisfied, beyond reasonable doubt, that the person has engaged in conduct amounting to a relevant offence under this Act.

(2) "Relevant offence under this Act" means any offence under this Act other than an offence under a provision contained in -

(a) Part 12 (company secretaries);

(b) Part 13 (resolutions and meetings);

(c) Part 16 (audit).

(3) The regulations may include provision -

(a) about the procedure to be followed in imposing penalties;

(b) about the amount of penalties;

(c) for the imposition of interest or additional penalties for late payment;