The Client Money Protection Schemes for Property Agents (Requirement to Belong to a Scheme etc.) Regulations 2019

Final notice

3.—(1) After the end of the period mentioned in paragraph 2 the local authority must—

(a) decide whether to impose a financial penalty on the property agent; and

(b) if it decides to do so, decide the amount of the penalty.

(2) If the authority decides to impose a financial penalty on the agent, it must serve a notice on the agent (a “final notice”) imposing that penalty.

(3) The final notice must require the penalty to be paid within the period of 28 days beginning with the day after that on which the notice was served.

(4) The final notice must set out—

(a) the amount of the financial penalty;

(b) the reasons for imposing the penalty;

(c) information about how to pay the penalty;

(d) the period for payment of the penalty;

(e) information about rights of appeal; and

(f) the consequences of failure to comply with the notice.