SCHEDULES

SCHEDULE 7Terrorist financing and money laundering

Part 6Enforcement: civil penalties

Imposition of penalty by other enforcement authority: procedure

27

1

This paragraph applies if the F3FCAF4... (“the authority”) proposes to impose a penalty under paragraph 25 F1or 25A on a person.

2

The authority must give the person notice of—

a

the proposal to impose the penalty and the proposed amount,

b

the reasons for imposing the penalty, and

c

the right to make representations to the authority within a specified period (which may not be less than 28 days).

3

The authority must then decide, within a reasonable period, whether to impose a penalty under paragraph 25 F2or (as the case may be) 25A and must give the person notice—

a

if it decides not to impose a penalty, of that decision;

b

if it decides to impose a penalty, of the following matters—

i

the decision to impose a penalty and the amount,

ii

the reasons for the decision, and

iii

the right to appeal under paragraph 28.