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2(1)After the end of the notice period Monitor must decide whether to—
(a)impose the discretionary requirement, with or without modifications, or
(b)impose any other discretionary requirement.
(2)Where Monitor decides under sub-paragraph (1) to impose a discretionary requirement on a person Monitor must give notice to that person (a “final notice”).
(3)A final notice must—
(a)state that Monitor has decided to impose the discretionary requirement and set out its effect,
(b)set out the grounds for imposing the requirement,
(c)in the case of a variable monetary penalty, state—
(i)how payment may be made,
(ii)the period (“the payment period”) within which payment must be made,
(iii)any discount applicable for early payment of the penalty, and
(iv)the rate of interest payable for late payment of the penalty,
(d)set out the consequences of failing to comply with the requirement, and
(e)explain the right of appeal conferred by paragraph 3.
(4)The payment period must be not less than 28 days beginning with the day after that on which the final notice is received.
(5)Monitor must not decide under sub-paragraph (1) to impose a variable monetary penalty unless the notice of intent was given before the end of the period of 5 years beginning with the day (or, in the case of a continuing breach, the last day) on which the breach giving rise to the imposition of the discretionary requirement occurred.
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