(1) Before imposing a monetary penalty on a person under regulation 88C, the Treasury must inform the person of its intention to do so.

(2) The Treasury must also -

(a) explain the grounds for imposing the penalty;

(b) specify the amount of the penalty;

(c) explain that the person is entitled to make representations; and

(d) specify the period within which any such representations must be made.

(3) If (having considered any representations), the Treasury decides to impose the penalty, the Treasury must -

(a) inform the person of its decision;

(b) explain that the person is entitled to seek a review by a Minister of the Crown; and