Paragraph 2 Notice of intent

(1)

Where the regulator proposes to impose a requirement under this Schedule on a person, the regulator must serve on that person a notice of what is proposed (a “notice of intent”).

(2)

In the case of a proposed compliance notice the notice of intent must include—

(a)

the grounds for the proposed notice;

(b)

the requirement of the notice;

(c)

information as to—

(i)

the right to make representations and objections within 28 days beginning with the day on which the notice of intent was received;

(ii)

the circumstances in which the regulator may not impose the notice (including any defences relating to the offence in relation to which the notice is served).

(3)

In the case of a proposed variable monetary penalty the notice of intent must include—

(a)

the grounds for imposing the variable monetary penalty;

(b)

the amount of the penalty;

(c)

information as to—

(i)

the right to make representations and objections within 28 days beginning with the day on which the notice of intent was received;

(ii)

the circumstances in which the regulator may not impose the penalty (including any defences relating to the offence in relation to which the notice is served).