PART 9B

Ring-fencing

Failure of parent undertaking to comply with direction

Procedure and right to refer to Tribunal
142T
1
If a regulator proposes to take action against a person under section 142S, it must give the person a warning notice.
2
A warning notice about a proposal to impose a penalty must state the amount of the penalty.
3
A warning notice about a proposal to publish a statement must set out the terms of the statement.
4
If the regulator decides to take action against a person under section 142S, it must give the person a decision notice.
5
A decision notice about the imposition of a penalty must state the amount of the penalty.
6
A decision notice about the publication of a statement must set out the terms of the statement.
7
If the regulator decides to take action against a person under section 142S, the person may refer the matter to the Tribunal.
Pt. 9B inserted (1.3.2014 for the insertion of ss. 142A-142F, 142I, 142W-142Z1 for specified purposes, 21.4.2016 for the insertion of s. 142H, 1.1.2019 in so far as not already in force) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 4(1), 148(5); S.I. 2014/377, art. 2(1)(b), Sch. Pt. 2; S.I. 2016/512, art. 2(a); S.I. 2018/1306, art. 2(d)
Pt. 9B power to apply (with modifications) conferred (1.1.2019) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 7(2)(b), 148(5); S.I. 2018/1306, art. 2(f)