Contents
Article 3Calculation of the baseline amount of a sanction#
1.The ECB shall calculate the baseline amount of any sanction to be imposed on a SIPS operator by reference to the turnover and the value of payments processed by the SIPS concerned.
2.The baseline amount of the sanction shall represent 50 % of the sum of the following amounts:
(a)1 % of turnover; and
(b)0,0001 % of the value of payments processed.
3.For periodic penalty payments, the baseline amount shall be divided by 180 to calculate the amount payable for each complete day of continued infringement.
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