Yes, this is a very very serious matter.
First part, you will get a notice (in one month time) when to go to
court (3 month notice).
You need your father / somebody with enough money, to go to court
with you.
Your father /somebody with enough money (cash) have to prepare to
pay the fine imposed by the court as you will be retained within
the court room, ie you can't even pay the fine (unless they hand
cuff you to get out of the court room to the payment counter). This
will be a very stressful experience.
I think the second part is the suspension. You will be suspended by
the TP. If your works require driving you may apply for deferment
of suspension. You will be asked to go for a refresher course (one
day course in the driving school), do a driving test, pass it to
get the deferment.
Third part is that deferment is with conditions. They will explain
to you.
Try not to speed again please. It is very traumatic to go through
all the above.