(1) Where the Bank considers it necessary for the purposes of its functions and duties under Regulation 648/2012 or these Regulations, it may issue a notice in writing (in this Regulation referred to as a "contravention notice") to a person who is a non-financial counterparty, to, not later than the date specified in the notice, take, or refrain from taking such actions (including entering into derivative contracts) as are specified in the notice for the purpose of -

(a) ensuring compliance by the non-financial counterparty concerned with Regulation 648/2012 or these Regulations, or

(b) preventing any person from contravening or continuing to contravene a provision of Regulation 648/2012 or these Regulations.

(2) A contravention notice shall -

(a) state that the Bank is of the opinion referred to in paragraph (1),

(b) state the reason for that opinion,

(c) identify the provisions of Regulation 648/2012 or these Regulations in respect of which the Bank has formed the opinion,