s 466 Reconsideration of decisions
466.—(1) This section applies where IPOS —(a) imposes a financial penalty on a person; (b) makes a cessation order against a person; or (c) gives a regulatory direction to a person. (2) The person may apply to IPOS, within the prescribed time and in the prescribed manner, for IPOS to reconsider its decision. (3) In an application for reconsideration —(a) IPOS must, within the prescribed time, confirm, vary or set aside its decision; and (b) unless IPOS otherwise orders, a financial penalty must be paid, and a cessation order or regulatory direction complied with, pending reconsideration by IPOS. (4) This section does not require IPOS to reconsider a decision made after reconsideration.