SCHEDULE 3PROHIBITIONS AND RESTRICTIONS BY THE BANK

Appeals

4.—(1) Section 27 of the Banking Act (rights of appeal) shall have effect as if—

(a)the decisions mentioned in subsection (1) included a decision of the Bank to impose a prohibition or impose or vary a restriction; and

(b)the reference in subsection (4) to the revocation of an institution’s authorisation included a reference to the imposition of a prohibition on the institution.

(2) Section 29 of that Act (determination of appeals) shall have effect as if in subsection (2)(a)—

(a)the reference to revoking an authorisation included a reference to imposing a prohibition; and

(b)the reference to restricting an authorisation instead included a reference to imposing instead a restriction.

(3) That section shall also have effect as if it included provision that, in the case of any appeal by a European institution, notice of the tribunal’s determination, together with a statement of its reasons, shall be given to the relevant supervisory authority in the institution’s home State.