(1)Before imposing a sanction on any person the Payment Systems Regulator must—
(a)give the person a notice in writing (a “warning notice”),
(b)give the person at least 21 days to make representations,
(c)consider any representations made, and
(d)as soon as is reasonably practicable, give the person a notice in writing stating whether or not it intends to impose the sanction.
(2)In subsection (1) any reference to imposing a sanction is a reference to—
(a)publishing details under section 72(1), or
(b)requiring the payment of a penalty under section 73.
Commencement Information
I1S. 74 in force at 1.3.2014 by S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1