Paragraph 12 Notice of intentI1
England and Wales
(1)
Where the regulator proposes to impose a variable monetary penalty on a person, the regulator must serve on that person a notice of what is proposed (“notice of intent”).
(2)
The notice of intent must include—
(a)
the grounds for the proposal to impose the 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 must not impose the penalty (including any defences relating to the offence in relation to which the notice is served).
Annotations
Commencement
- I1
Sch. 2 para. 12 in force at 6.4.2024, see reg. 1(2)