Financial Services and Markets Bill - continued        House of Lords
PART XXV, INJUNCTIONS AND RESTITUTION - continued
Restitution required by Authority - continued

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Warning notices.     379. - (1) If the Authority proposes to exercise the power under section 378(3) in relation to a person, it must give him a warning notice.
 
      (2) A warning notice under this section must specify the amount which the Authority proposes to require the person concerned to pay or distribute as mentioned in section 378(3).
 
Decision notices.     380. - (1) If the Authority decides to exercise the power under section 378(3), it must give a decision notice to the person in relation to whom the power is exercised.
 
      (2) The decision notice must-
 
 
    (a) state the amount that he is to pay or distribute as mentioned in section 378(3);
 
    (b) identify the person or persons to whom that amount is to be paid or among whom that amount is to be distributed; and
 
    (c) state the arrangements in accordance with which the payment or distribution is to be made.
      (3) If the Authority decides to exercise the power under section 378(3), the person in relation to whom it is exercised may refer the matter to the Tribunal.
 
Notice for payment.     381. - (1) If the Authority exercises the power under section 378(3), it must give the person in relation to whom the power is exercised a notice under this section (a "notice for payment").
 
      (2) A notice for payment must-
 
 
    (a) be in writing; and
 
    (b) require the person concerned, before the end of such period as may be specified in the notice, to make the payment or distribution set out in the notice in accordance the arrangements set out in the notice.
      (3) The specified period may not be less than 14 days beginning with the date on which the notice for payment is given.
 
      (4) The obligation imposed on a person by virtue of subsection (2)(b) is enforceable, on the application of the Authority, by injunction or, in Scotland, by an order under section 45 of the Court of Session Act 1988.
 
 
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