Part XVIII U.K. [F1 Recognised investment exchanges, clearing houses [F2 , CSDs and other parties]]

Textual Amendments

F1 Pt. 18 heading substituted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), regs. 1, 2(8) (with regs. 7(4), 9(1))

F2 Words in Pt. 18 heading substituted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 18(2), 86(3); S.I. 2023/779, reg. 4(m)

Modifications etc. (not altering text)

C1 Pt. 18 applied in part (with modifications) (12.12.2011) by The Recognised Auction Platforms Regulations 2011 (S.I. 2011/2699), reg. 7, Sch. 2 (as amended (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), reg. 1, Sch. para. 37 (with regs. 7(4), 9(1)))

[F3 CHAPTER 2A U.K. Performance of functions of recognised bodies

Textual Amendments

F3 Pt. 18 Ch. 2A inserted (29.6.2023 for specified purposes) by Financial Services and Markets Act 2023 (c. 29), s. 86(1)(e), Sch. 10 para. 1

Prohibition U.K.

309C Procedure for making Part 18 prohibition orders U.K.

(1) If the appropriate regulator proposes to make a Part 18 prohibition order it must—

(a) comply with such consultation requirements as may be prescribed, and

(b) give the individual to whom the order would apply a warning notice.

(2) A warning notice under subsection (1)(b) must set out the terms of the prohibition.

(3) If the appropriate regulator decides to make a Part 18 prohibition order it must give the individual to whom the order applies a decision notice.

(4) The decision notice must—

(a) name the individual to whom the Part 18 prohibition order applies, and

(b) set out the terms of the order.

(5) If the appropriate regulator decides to make a Part 18 prohibition order, the individual to whom the order applies may refer the matter to the Tribunal.]