Sch 5 para 2 Notice of intent
(1) An administrator who proposes to impose a fixed monetary penalty on a seller must serve a notice of intent on that seller. (2) But an administrator may not serve a notice of intent on a seller in relation to a breach where a discretionary requirement has been imposed on the seller in relation to the same breach. (3) A notice of intent must— (a) state the amount of the penalty; (b) offer the seller the opportunity to discharge its liability by paying the amount specified in paragraph 3 within the period of 28 days beginning with the day on which the notice was received; (c) include information as to— (i) the grounds for the proposal to impose the penalty; (ii) the right to make representations and objections; (iii) the 28-day period within which representations and objections may be made; (iv) the circumstances in which the administrator may not impose the penalty; (v) methods of payment.