Part V

Performance of Regulated Activities

Prohibition orders

Prohibition orders
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1
Subsection (2) applies if it appears to the Authority that an individual is not a fit and proper person to perform functions in relation to a regulated activity carried on by an authorised person.
2
The Authority may make an order (“a prohibition order”) prohibiting the individual from performing a specified function, any function falling within a specified description or any function.
3
A prohibition order may relate to—
a
a specified regulated activity, any regulated activity falling within a specified description or all regulated activities;
b
authorised persons generally or any person within a specified class of authorised person.
4
An individual who performs or agrees to perform a function in breach of a prohibition order is guilty of an offence and liable on summary conviction to a fine not exceeding level 5 on the standard scale.
5
In proceedings for an offence under subsection (4) it is a defence for the accused to show that he took all reasonable precautions and exercised all due diligence to avoid committing the offence.
6
An authorised person must take reasonable care to ensure that no function of his, in relation to the carrying on of a regulated activity, is performed by a person who is prohibited from performing that function by a prohibition order.
7
The Authority may, on the application of the individual named in a prohibition order, vary or revoke it.
8
This section applies to the performance of functions in relation to a regulated activity carried on by—
a
a person who is an exempt person in relation to that activity, and
b
a person to whom, as a result of Part XX, the general prohibition does not apply in relation to that activity,
as it applies to the performance of functions in relation to a regulated activity carried on by an authorised person.
9
“Specified” means specified in the prohibition order.