Section 74

Before imposing a sanction on any person the Payment Systems Regulator must— give the person a notice in writing (a “warning notice”), give the person at least 21 days to make representations, consider any representations made, and as soon as is reasonably practicable, give the person a notice in writing stating whether or not it intends to impose the sanction. In subsection (1) any reference to imposing a sanction is a reference to— publishing details under section 72(1), or requiring the payment of a penalty under section 73.

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Source: legislation.gov.uk · retrieved 2026-09-04