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 FSA, the OFT or DETINI (“the authority”) proposes to impose a penalty under paragraph 25 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 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.