If Ofcom1 is satisfied that the holder of a radio multiplex licence2 has failed to comply with any condition of the licence or with any direction given by Ofcom under or by virtue of any provision of Part II of the Broadcasting Act 19963, it may serve on him4:
(1) a notice requiring him to pay, within a specified period, a specified financial penalty to Ofcom5; or
(2) a notice reducing the period for which the licence is to be in force6 by a specified period not exceeding two years7.
Ofcom may not serve on any person any such notice
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