Both the pupil's mother and father will be forced to pay the penalty if they miss registration 10 times in a 12-week term.
And if the fine issued by Emerson Valley School in Milton Keynes, Buckinghamshire, is not paid within 21 days it will double to £120.
Parents who have two children will be hit with a combined £240 penalty - which will double to £480 if not paid within three weeks.
Fine mess: The headteacher at Emerson Valley
School in Milton Keynes, Buckinghamshire, has warned parents they will
face fines of £60 if their children are late
Education campaigners and parents said the fines were over the top - and are being imposed at a time when families are struggling to make ends meet.
Parent Georgina Hodgkinson, 40, said: 'There needs to be a deterrent but I think it puts a lot of pressure on parents and does break the commitment between the school and the families.
'If you have got, like we have, children in different schools, you are trying to navigate logistics from one to the other and there are always going to be some problems with that.'
Chris McGovern, from The Campaign for Real Education, said he had not heard of any school in Britain fining parents for late pupils.
He said: 'Punctuality is very important but fines are a step to far.
'If implemented, they could undermine relations between school and parents -the cornerstone of any school's success.'
Emerson Valley School, which is in special measures, hopes the move will raise standards.
In a statement, the school said the link between good attendance and pupils' achievement was clear and that its strategies to improve attendance and punctuality had been successful.
It read: 'National and local authority guidance is that as a last resort, a fixed penalty notice may be issued for persistent late arrival at school.'
School fine: Parents at the school in Milton Keynes will have the fine doubled if they don't pay it promptly (file picture)
It added that no warning letters or fixed penalties for persistent late arrival had been issued during the current year.
The school said it had liaised with nearby Merebrook Infant School and taken 'positive steps', including opening its playground from 08.40am to ensure pupils could arrive punctually at both schools
A spokesman for Milton Keynes Council said a borough-wide policy was in place, but the final decision on whether to issue the penalties lay with individual schools.
He added that two different schools in the area had implemented the fines, but the council would not disclose the name of the second school.
He said: 'Our figures show that in the last academic year, two fixed penalty fines were issued in relation to persistent late attendance by pupils.
'In the majority of cases a warning letter has proved to be enough to stop the issue.'
The fixed penalty notices are backed by law and parents who do not pay can be prosecuted.
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