Notice of intent
3.—(1) Where an administrator proposes to impose one or more discretionary requirements on a seller, the administrator must serve a notice of intent on that seller(1).
(2) The notice of intent must—
(a)if the administrator proposes to impose a non-monetary discretionary requirement(2)—
(i)specify the steps that the administrator proposes the seller be required to take;
(ii)specify the time period within which the administrator proposes that those steps are to be completed;
(b)if the administrator proposes to impose a variable monetary penalty, specify the amount of penalty proposed;
(c)include information as to—
(i)the grounds for the proposal to impose the one or more discretionary requirements;
(ii)the right to make representations and objections conferred by paragraph 4;
(iii)the circumstances in which the administrator may not impose the one or more discretionary requirements;
(iv)the 28 day period within which representations and objections may be made;
(v)in the case of a variable monetary penalty, how payment may be made.
For the meaning of “notice of intent” see paragraph 13(1)(a) of Schedule 6 to that Act.
For the meaning of “non-monetary discretionary requirement” see paragraph 12(4) of that Act.