30Recovery or funding of reasonable costs from financial assurance

30 Recovery or funding of reasonable costs from financial assurance

30 Recovery or funding of reasonable costs from financial assurance

(1) The regulator may recover or fund from the financial assurance the reasonable costs of causing action to be carried out under section 29.

(2) Before recovering or funding reasonable costs from the financial assurance, the regulator must give to the brand owner a written notice under this section.

(3) The notice must—

(a) state details of the action to which the costs apply, and

(b) state the amount to be recovered or funded, and

(c) invite the brand owner to make written representations to the regulator to show why the amount should not be recovered or funded, and

(d) state the period, being at least 30 days after the notice is given to the brand owner, within which representations may be made.

(4) After the end of the period stated in the notice, the regulator must consider written representations made by the brand owner.

(5) If the regulator decides to recover or fund the amount from the financial assurance, the regulator must, as soon as practicable, give written notice to the brand owner of its decision and the reasons for the decision.

(6) The regulator must return excess amounts, if any, to the brand owner.

(7) If the amount recovered or funded from the financial assurance is not sufficient to cover all reasonable costs and expenses, the regulator may recover the excess from the brand owner as a debt in a court of competent jurisdiction.