Mr. John Palmer:

In fact, after the draft direction - again, this is all after the legal advice and in line with the need to ensure fairness and proportionality - there will be a further two weeks to allow the designated entity the chance to make a submission. That draft direction, then, is either confirmed as a direction, amended and changed slightly or, indeed, not issued at all. If the designated entity fails to comply with the direction, it will become a designated enactment under the Central Bank Act 1942, subject to the relevant sanctions.