(1) Before determining to impose a penalty on a person under section 39A the OFT shall give a notice to that person -
(a) informing him that it is minded to impose a penalty on him;
(b) stating the proposed amount of the penalty;
(c) setting out its reasons for being minded to impose a penalty on him and for proposing that amount;
(d) setting out the proposed period for the payment of the penalty; and
(e) inviting him to submit representations to it about the matters mentioned in the preceding paragraphs in accordance with section 34.
(2) In determining whether and how to exercise its powers under section 39A in relation to a person's failure, the OFT shall have regard to (amongst other things) -
(a) any penalty or fine that has been imposed on that person by another body in relation to the conduct giving rise to the failure;
(b) other steps that the OFT has taken or might take under this Part in relation to that conduct.
(3) General notice shall be given of the imposition of a pe