Paragraph 6 Contents of a final notice

England and Wales

The final notice must include information as to—

(a)

the grounds for imposing the one or more discretionary requirements;

(b)

the administrator's response to any representation and objections made by the seller, including the effect (if any) on the amount of any variable monetary penalty imposed;

(c)

where the discretionary requirement is a non-monetary discretionary requirement—

(i)

the steps the seller is required to take;

(ii)

the period within which those steps must be completed;

(d)

where the discretionary requirement is a variable monetary penalty—

(i)

the amount of the penalty;

(ii)

how payment may be made;

(iii)

the period within which payment must be made;

(iv)

the effect of paragraph 8 (early payment discount)

(v)

the effect of paragraph 9 (late payment penalty);

(e)

rights of appeal; and

(f)

the consequences of failing to comply with the notice.