The Payment Accounts Regulations 2015

Warning notices

This section has no associated Explanatory Memorandum

10.  Before it requires the payment of a penalty by the operator under paragraph 9 the Regulator must—

(a)give the operator a notice in writing (a “warning notice”);

(b)give the operator at least 21 days to make representations;

(c)consider any representations made; and

(d)as soon as is reasonably practicable, give the operator a notice in writing stating whether or not it intends to impose the penalty, and where a penalty is to be imposed, the amount of the penalty.