Regulation 4 Circumstances in which a monetary penalty may not be imposedI1

after the service on P of a proposal notice, the Secretary of State becomes aware of new matters relating to the amount of financial benefit accruing to any person as a result of the offence, and

having considered the new matters, the Secretary of State is of the opinion that the sum specified in the proposal notice does not properly reflect the amount of financial benefit likely to have accrued to P as a result of the offence.

must withdraw the proposal notice, and

may, in respect of the same offence, serve a new proposal notice on P specifying a sum different to that specified in the original proposal notice (‘the original sum’), which may be higher or lower than the original sum.