Sch 4 para 3 Notice of intent
(1) Where an administrator proposes to impose a non-compliance penalty on a seller, the administrator must serve on that seller a notice of what is proposed (a “notice of intent”). (2) A notice of intent must include information as to— (a) the kind of failure in relation to which the administrator proposes to impose the non-compliance penalty; (b) the specified steps which remain to be taken by the seller concerned; (c) the amount of the penalty proposed; (d) how payment may be made; (e) the date by which payment would be due; (f) the consequences of failure to make payment by the date it is due; (g) the right to make representations and objections conferred by paragraph 4; (h) the 28 day period within which representations and objections may be made; (i) the circumstances (if any) in which the administrator may be inclined to reduce the amount of the penalty proposed.