(1) Except as otherwise written in this Act, while taking action under Section 99 or imposing a penalty under Section 100, the National Bank shall follow the following procedure:- (a) Prior to taking the proposed action or penalty, the accused bank or financial institution or person shall be informed of the action taken by him regarding the proposed penalty or action. A written notice shall be given within seven days from the date of receipt of the written notice as per Clause (a) within seven days from the date of receipt of the written notice as per clause (a) Organizations or individuals must submit their defenses in writing. (c) If the written defenses submitted in accordance with Clause (b) are deemed reasonable, the National Bank may amend, limit or cancel such charges. (d) Written defenses submitted in accordance with Clause (b) If it is not understood, the National Bank will take action in accordance with Section 99 or fine in accordance with Section 100 against such bank or financial institution or person. (2) Other procedures to be adopted by the National Bank in taking action or imposing a fine in accordance with this Act shall be as prescribed by the National Bank.