251. Final notices

(1) If the Regulator has given a person a decision notice and the matter was not referred to the Regulatory Committee (or a decision of the Regulatory Committee in relation to the matter was not appealed to the Appeals Panel) within the time required by any procedures of the Regulatory Committee or, if applicable, the Appeals Panel, the Regulator must, on taking the action to which the decision notice relates, give the person concerned and any person to whom the decision notice was copied, a final notice.
(2) If the Regulator has given a person a decision notice and the matter was referred to the Regulatory Committee (or a decision of the Regulatory Committee in relation to the matter was appealed to the Appeals Panel), the Regulator must, on taking action in accordance with any directions given by the Regulatory Committee or Appeals Panel, give that person and any person to whom the decision notice was copied, the notice required by subsection (3).
(3) The notice required by this subsection is —
(a) in a case where the Regulator is acting in accordance with a direction given by the Regulatory Committee or Appeals Panel, a further decision notice; and
(b) in any other case, a final notice.
(4) A final notice must, to the extent applicable —
(a) state the amount of any financial penalty to be made and the date by which it is to be paid;
(b) state the period for which any suspension, limitation or restriction is to have effect;
(c) state the terms of any statement to be published;
(d) when ordering restitution in the form of payment —
(i) state the amount that is to be paid or distributed;
(ii) identify the person or persons to whom that amount is to be paid or among whom that amount is to be distributed; and
(iii) state the arrangements in accordance with which the payment or distribution is to be made.
(5) If all or any of a required payment has not been made at the end of a period stated in a final notice in accordance with subsection 251(4)(a), the obligation to make the payment is enforceable as a debt by the person entitled to the payment.
Amended on (13 January, 2020).