(1) Where the Authority is of the opinion that a licensee has contravened or is contravening a relevant obligation, the Authority may, having regard to the matters set out in subsection (2) -

(a) enter into an agreement with the licensee in accordance with section 191,

(b) proceed to deal with the alleged contravention under Chapter 4, or

(c) carry out a directed investigation in accordance with Chapter 5.

(2) In determining whether to proceed in accordance with paragraph (a), (b) or (c) of subsection (1), the Authority shall have regard to the following matters:

(a) the nature and gravity of the alleged contravention;

(b) the duration of the alleged contravention;

(c) whether the objective of the exercise of the power is primarily to deter others;

(d) whether the objective of the exercise of the power is primarily to achieve compliance;

(e) the damage which may be caused by the alleged contravention;

(f) how easily such damage may be repaired;