Variation of penalty
This section has no associated Explanatory Notes
7(1)The Scottish Ministers may, on an application from an approved regulator received within 21 days beginning with the day on which the decision notice is given to the approved regulator—
(a)vary the date by which the penalty requires to be paid,
(b)allow for the penalty to be paid by—
(i)instalments (if not already allowed), or
(ii)different instalments (if allowed).
(2)Where an application is made under sub-paragraph (1), no part of the penalty is required to be paid before the Scottish Ministers notify the approved regulator of their determination of the application.