(1) Where the assessment of the assessor is that the assessee is committing or has committed a prescribed contravention, the Bank shall -
(a) issue the assessee with a copy of the adverse assessment (or, as the Bank thinks fit, so much of the adverse assessment as constitutes the statements referred to in Regulation 35(8)), and
(b) advise the assessee that -
(i) the assessee may appeal against the adverse assessment to the Court under Regulation 40, and
(ii) the Bank may apply to the Court under Regulation 45 for an order confirming the adverse assessment (including the specified sanctions).
(2) Where the assessment of the assessor is that the assessee is neither committing nor has committed a prescribed contravention, the Bank shall issue the assessee with a statement to that effect.