<edit> - ah - where'd you find the £30/£60 thing ?
...second hit googling 'pedal reflector uk' comes up with:
http://www.ctc.org.u...aspx?tabid=4071 :
Abbreviated to RVLR: the
Road Vehicle Lighting Regulations 1989 (amended in
1994,
1996,
2001,
2005, again in
2005 and
2009) require pedal cycles to have various lights and reflectors fitted, clean and working properly, when being ridden on a public road between sunset and sunrise. Cyclists may also be required to light up in conditions of seriously reduced visibility during the day, but only if they have functional lights already fitted. Lights are not required when the cycle is stationary or being pushed along the roadside.
It has to be said that the fine details of RVLR are seldom enforced; and provided you show some kind of white light in front and red behind you are unlikely to be challenged. If you are involved in a night-time accident however, any slight illegality with respect to your lights or reflectors may be regarded as contributory negligence. The following items are the minimum required, on a bicycle or tricycle, in order to ride it legally at night:
<snippage>
Pedal Reflectors
Four are required, coloured amber and marked BS6102/2 (or equivalent), positioned so that one is plainly visible to the front and another to the rear of each pedal.
<more snippage>
The Pedal Cycles (Safety) Regulations (PCSR) ensure that every new bicycle is sold with several extra reflectors, not required by RVLR, but (strangely) does nothing at all to facilitate the fitment of front and rear lamps. These additional reflectors are found on the sides of the wheels, clear white or coloured yellow, and there's also a "white" reflector on the front of the bike. You are at liberty to remove the front and side reflectors, but beware that there are some situations (albeit most unusual) where a front reflector might improve your safety, and be sure to fit the necessary front and rear lamps. <final snippage>
To put it another way, I don't think most people (Police included) give much of a toss about pedal reflectors in their own right - you might get a talking to for riding without *any* reflectors or lights, but I'd suspect that'd be more on grounds of general visibility rather than legality. It's only relatively recently that it's legal to use non-incandescent lights, yet cyclists were using LED lights for years before that without any Police attention..