2. The administering State in respect of a company shall ensure that, for any of its ships having a compliance deficit for GHG intensity as referred to in Article 4(2) or, if applicable, for the subtarget for RFNBO as referred to in Article 5(3) on 1 June of the verification period, after a possible validation by its competent authority, the company shall pay by 30 June of the verification period an amount equal to the FuelEU penalty resulting from the application of the formulas specified in Part B of Annex IV. If a ship has a compliance deficit for two consecutive reporting periods or more, that amount shall be multiplied by 1 + (n -1)/10, where n is the number of consecutive reporting periods for which the company is subject to a FuelEU penalty for that ship.