2.—(1) An administrator who proposes to impose a fixed monetary penalty on a seller must serve a notice of intent on that seller.
(2) But an administrator may not serve a notice of intent on a seller in relation to a breach where a discretionary requirement has been imposed on the seller in relation to the same breach.
(3) A notice of intent must—
(a)state the amount of the penalty;
(b)offer the seller the opportunity to discharge its liability by paying the amount specified in paragraph 3 within the period of 28 days beginning with the day on which the notice was received;
(c)include information as to—
(i)the grounds for the proposal to impose the penalty;
(ii)the right to make representations and objections;
(iii)the 28-day period within which representations and objections may be made;
(iv)the circumstances in which the administrator may not impose the penalty;
(v)methods of payment.