Paragraph 2 Notice of intent

(1)

An administrator who proposes to impose a fixed monetary penalty on a seller must serve a notice of intent on that seller.

(2)

But an administrator may not serve a notice of intent on a seller in relation to a breach where a discretionary requirement has been imposed on the seller in relation to the same breach.

(3)

A notice of intent must—

(a)

state the amount of the penalty;

(b)

offer the seller the opportunity to discharge its liability by paying the amount specified in paragraph 3 within the period of 28 days beginning with the day on which the notice was received;

(c)

include information as to—

(i)

the grounds for the proposal to impose the penalty;

(ii)

the right to make representations and objections;

(iii)

the 28-day period within which representations and objections may be made;

(iv)

the circumstances in which the administrator may not impose the penalty;

(v)

methods of payment.