Paragraph 10 Warning notices

Before it requires the payment of a penalty by the operator under paragraph 9 the Regulator must—

(a)

give the operator a notice in writing (a “warning notice”);

(b)

give the operator at least 21 days to make representations;

(c)

consider any representations made; and

(d)

as soon as is reasonably practicable, give the operator a notice in writing stating whether or not it intends to impose the penalty, and where a penalty is to be imposed, the amount of the penalty.

Notes on the whole SI

Textual amendments

F1: Regulations revoked (14.12.2023 for the revocation of reg. 44) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/1382, reg. 2(c)(xiv)