62Removal of officers etc. following inquiries
(1)The Regulator may remove a responsible individual where, having made inquiries, it considers—
(a)that there has been misconduct or mismanagement in a registered social landlord’s financial or other affairs,
(b)that the interests of a registered social landlord’s tenants need protection,
(c)that a registered social landlord’s assets need protection, or
(d)that the responsible individual—
(i)is, during a moratorium under section 75, obstructing the Regulator from performing its functions under Part 7, or
(ii)is not co-operating in accordance with section 84(2).
(2)Before removing a responsible individual, the Regulator must give at least 14 days’ notice of its intention to do so to—
(a)the responsible individual, and
(b)the registered social landlord.
(3)It is an offence for a removed individual to take any action in relation to the management or control of—
(a)the registered social landlord concerned, or
(b)any other registered social landlord,
without the Regulator’s consent.
(4)An individual guilty of such an offence is liable, on summary conviction, to—
(a)imprisonment for a term not exceeding 3 months,
(b)a fine not exceeding level 5 on the standard scale, or
(c)both.