F1PART 9BRing-fencing
Failure of parent undertaking to comply with direction
142TProcedure and right to refer to Tribunal
(1)
If a regulator proposes to take action against a person under section 142S, it must give the person a warning notice.
(2)
A warning notice about a proposal to impose a penalty must state the amount of the penalty.
(3)
A warning notice about a proposal to publish a statement must set out the terms of the statement.
(4)
If the regulator decides to take action against a person under section 142S, it must give the person a decision notice.
(5)
A decision notice about the imposition of a penalty must state the amount of the penalty.
(6)
A decision notice about the publication of a statement must set out the terms of the statement.
(7)
If the regulator decides to take action against a person under section 142S, the person may refer the matter to the Tribunal.