C6 Part V Performance of Regulated Activities

Annotations:
Modifications etc. (not altering text)
C6

Pt. V (ss. 56-71) modified (1.12.2001) by S.I. 2001/3592, arts. 1(2), 114(3)(a), 128(3)(a) (with art. 23(2))

F13Conduct of approved persons and others

Annotations:
Amendments (Textual)
F13

Ss. 64A, 64B and cross-heading inserted (25.7.2014 for specified purposes, 7.3.2016 for specified purposes) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 30(3), 148(5); S.I. 2014/1819, art. 2(2)(c); S.I. 2015/490, art. 2(1)(d) (as inserted by S.I. 2015/2055, art. 2(4) and with savings and transitional provisions in S.I. 2015/492 (as amended by S.I. 2015/1660))

C1C2C3C4C7C8C10C9C11C1267 Disciplinary measures: procedure and right to refer to Tribunal.

1

If F7a regulator proposes to take action against a person under section 66, it must give him a warning noticeF1; and if it proposes to take action under subsection (3)(aa) F16, (ab) or (ac) of that section, it must also give each of the other interested parties a warning notice.

2

A warning notice about a proposal to impose a penalty must state the amount of the penalty.

F22A

A warning notice about a proposal—

a

to suspend an approval, or

b

to impose a F17condition in relation to the performance of a function,

must state the period for which the suspension or F17condition is to have effect.

F142B

A warning notice about a proposal to limit the period for which an approval is to have effect must state the length of that period.

3

A warning notice about a proposal to publish a statement must set out the terms of the statement.

C54

If F8a regulator decides to take action against a person under section 66, it must give him a decision noticeF3; and if it decides to take action under subsection (3)(aa) F18, (ab) or (ac) of that section, it must also give each of the other interested parties a decision notice.

5

A decision notice about the imposition of a penalty must state the amount of the penalty.

F45A

A decision notice about—

a

the suspension of an approval, or

b

the imposition of a F19condition in relation to the performance of a function,

must state the period for which the suspension or F19condition is to have effect.

F155B

A decision notice about limiting the period for which an approval is to have effect must state the length of that period.

6

A decision notice about the publication of a statement must set out the terms of the statement.

7

If F9a regulator decides to take action against a person under section 66, he may refer the matter to the TribunalF5; and if F10the regulator decides to take action under section 66(3)(aa) F20, (ab) or (ac), each of the other interested parties may also refer the matter to the Tribunal.

F68

Approval” means an approval given under section 59.

9

“Other interested parties”, in relation to F11a person (“A”) in relation to whom approval has been given, are—

a

the person on whose application the approval was given (“B”); and

b

the person by whom A's services are retained, if not B.

F12...