Article 16 — Periodic penalty payments

1. The Commission may, by means of a decision, impose on the licensee a periodic penalty payment for each working day calculated from the date determined in that decision, in order to compel the licensee to put an end to the non-compliance with the obligations laid down in Article 9(1), Article 10(1) or Article 11. 2. The periodic penalty payment imposed in accordance with paragraph 1 shall not exceed 1,5 % of the average daily turnover of the licensee in the preceding financial year. Where the licensee is an SME, the periodic penalty payment shall not exceed 0,5 % of its average daily turnover in the preceding financial year. 3. Article 15(3) shall apply mutatis mutandis. 4. Where the licensee has satisfied the obligation which the periodic penalty payment was intended to enforce, the Commission may fix the definitive amount of the periodic penalty payment at a figure lower than that which would arise under the original decision.