F1PART 5AWholesale cash distribution
Enforcement
206VManagement disqualification
(1)
The Bank of England may by order prohibit a specified person from holding an office or position involving responsibility for taking decisions about the management of a recognised person—
(a)
for a specified period,
(b)
until further notice, or
(c)
permanently.
(2)
A person who breaches a prohibition under subsection (1) commits an offence.
(3)
A person who commits an offence under this section is liable—
(a)
on summary conviction in England and Wales, to a fine;
(b)
on summary conviction in Scotland, to a fine not exceeding the statutory maximum;
(c)
on summary conviction in Northern Ireland, to a fine not exceeding the statutory maximum;
(d)
on conviction on indictment, to a fine.
(4)
In this section, “specified” means specified in the order.