Paragraph 3 Acceptance of an enforcement undertaking
If a regulator has accepted an enforcement undertaking then, unless the person from whom the undertaking is accepted has failed to comply with the undertaking or any part of it—
(a)
that person may not at any time be convicted of the offence in respect of the act or omission to which the undertaking relates,
(b)
the regulator may not impose on that person any fixed monetary penalty, variable monetary penalty, compliance notice or restoration notice in respect of that act or omission.