SCHEDULE 2Variable monetary penalties, compliance notices and third party undertakings
Final notice5
1
After the end of the period for making representations and objections, the regulator must decide whether to—
a
impose the requirements in the notice of intent, with or without modifications, or
b
impose any other requirement that the regulator has power to impose under this Schedule.
2
In making its decision, the regulator must take into account any third party undertaking that it has accepted.
3
Where the regulator decides to impose a requirement, the notice imposing it (the “final notice”) must comply with paragraph 6 or 7.
4
The regulator may not impose a final notice on a person where the regulator is satisfied that the person would not, by reason of any defence, be liable to be convicted of the offence to which the notice relates.