39 Appeals against financial penalties

39  Appeals against financial penalties

(1)     An approved regulator on whom a penalty is imposed may appeal to the court on one or more of the appeal grounds.

(2)     The appeal grounds are—

(a)     that the imposition of the penalty was not within the power of the Board under section 37;

(b)     that any of the requirements of section 38 have not been complied with in relation to the imposition of the penalty and the interests of the approved regulator have been substantially prejudiced by the non-compliance;

(c)     that the amount of the penalty is unreasonable;

(d)

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