3.—(1) Where an administrator proposes to impose a non-compliance penalty on a seller, the administrator must serve on that seller a notice of what is proposed (a “notice of intent”).
(2) A notice of intent must include information as to—
(a)the kind of failure in relation to which the administrator proposes to impose the non-compliance penalty;
(b)the specified steps which remain to be taken by the seller concerned;
(c)the amount of the penalty proposed;
(d)how payment may be made;
(e)the date by which payment would be due;
(f)the consequences of failure to make payment by the date it is due;
(g)the right to make representations and objections conferred by paragraph 4;
(h)the 28 day period within which representations and objections may be made;
(i)the circumstances (if any) in which the administrator may be inclined to reduce the amount of the penalty proposed.