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1. Member States shall, by 1 February 2013, lay down rules on the penalties applicable to infringements of this Regulation and shall take all measures necessary to ensure that they are implemented. Such penalties shall be effective, proportionate and dissuasive. Member States shall notify the Commission of those rules and measures by 1 August 2013 and shall notify it without delay of any subsequent amendment affecting them.

1a. By way of derogation from paragraph 1 of this Article, Member States shall, by 9 April 2025, lay down rules on the penalties applicable to infringements of Articles 5a to 5d and shall take all measures necessary to ensure that they are implemented. Such penalties shall be effective, proportionate and dissuasive. Member States shall, by 9 April 2025, notify the Commission of those rules and measures and shall notify it, without delay, of any subsequent amendment affecting them.

1b. With respect to penalties applicable to infringements of Article 5d, Member States shall ensure that such penalties include:

(a) in the case of a legal person, maximum administrative fines of at least 10 % of the total annual net turnover of the legal person in the preceding business year;

(b) in the case of a natural person, maximum administrative fines of at least EUR 5 000 000 , or the equivalent amount in the national currency in the Member States whose currency is not the euro on 8 April 2024. For the purposes of point (a) of this paragraph, where the legal person is a subsidiary of a parent undertaking, as defined in Article 2, point (9), of Directive 2013/34/EU of the European Parliament and of the Council (), or of any undertaking which effectively exercises a dominant influence over that legal person, the relevant turnover shall be the turnover resulting from the consolidated accounts of the ultimate parent undertaking in the preceding business year.

1c. The penalties referred to in paragraph 1a of this Article shall not be applied in respect of infringements of the reachability requirement in Article 5a(1), second subparagraph, where the payment accounts maintained by PSPs are not reachable for instant credit transfers due to planned maintenance where periods of non-availability are both foreseeable and short or to a planned downtime of all instant credit transfers under the relevant payment scheme, provided that PSUs have been informed in advance of those periods of planned maintenance or planned downtime.

1d. By way of derogation from paragraph 1b, where the legal system of the Member State does not provide for administrative penalties, this Article may be applied in such a manner that the penalty is initiated by the competent authority and imposed by judicial authorities, while ensuring that that penalty is effective, proportionate and dissuasive, and has an equivalent effect to the administrative penalties imposed by the competent authorities of the Member States the legal system of which does provide for administrative penalties. In any event, the penalties imposed shall be effective, proportionate and dissuasive. The Member States the legal system of which does not provide for administrative penalties shall notify the Commission of their penalties by 9 April 2025 and shall notify it without delay of any subsequent amendment affecting them.

2. The penalties referred to in paragraph 1 shall not be applied to consumers.