http://www.legislation.gov.uk/ukpga/2009/1/section/206WBanking Act 2009An Act to make provision about banking.texttext/xmlenStatute Law Database2026-02-20Expert Participation2026-01-19 Banking Act 2009s. 4(8A) (8B)Financial Services Act 2012s. 96(3)Sch. 20s. 122(3)Banking Act 2009s. 8(2)(d) and wordFinancial Services Act 2012s. 96(4)(b)Sch. 20s. 122(3)Banking Act 2009s. 3(5)The Credit Institutions and Investment Firms (Miscellaneous Definitions) (Amendment) Regulations 2026reg. 19(4)reg. 1(2) PART 5A206W1Before imposing a sanction on a person the Bank of England must—agive the person a notice (“a warning notice”),bgive the person at least 21 days from the date of the notice to make representations,cconsider any representations made, anddas soon as reasonably practicable, give the person a notice stating whether the Bank intends to impose the sanction.2In subsection (1), “imposing a sanction” means—apublishing details under section 206S;brequiring the payment of a penalty under section 206T;cgiving a closure order under section 206U;dmaking an order under section 206V.3Despite subsection (1), if satisfied that it is necessary, the Bank may without notice—agive a closure order under section 206U, orbmake an order under section 206V.Pt. 5A inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(d), Sch. 9 para. 1