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The Cross-Border Payments in Euro Regulations 2010
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- UK Statutory Instruments
- 2010 No. 89
- Regulation 7
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7.—(1) Where the Authority proposes to publish a statement under regulation 5 or to impose a penalty under regulation 6, it must give the payment service provider concerned a warning notice.
(2) The warning notice must set out the terms of the proposed statement or state the amount of the proposed penalty.
(3) If, having considered any representations made in response to the warning notice, the Authority decides to publish a statement under regulation 5 or to impose a penalty under regulation 6, it must without delay give the payment service provider concerned a decision notice.
(4) The decision notice must set out the terms of the statement or state the amount of the penalty.
(5) After a statement under regulation 5 is published, the Authority must send a copy of it to the payment service provider concerned and to any person to whom a copy of the decision notice was given under section 393(4) of the 2000 Act (third party rights) (as applied by paragraph 5 of the Schedule to these Regulations).
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