[F183ZT.Procedure: warning noticeU.K.
(1)If the Bank of England proposes to impose a sanction on a person under section 83ZR(1) or (3) it must give that person a warning notice.
(2)Section 387 of the Financial Services and Markets Act 2000 applies in relation to a warning notice given under subsection (1) and to the Bank as it applies in relation to a warning notice given under that Act and to the regulator which gave that notice, subject to subsections (3) and (4).
(3)In complying with section 387(1)(a) of that Act, a warning notice must in particular—
(a)if it is about a proposal to publish a statement, set out the terms of the statement,
(b)if it is about a proposal to impose a penalty, specify the amount of the penalty,
(c)if it is about a proposal to direct a person to refrain from certain conduct, specify the conduct, and
(d)if it is about a proposal to impose a prohibition on holding an office or other position, specify the extent of the prohibition.
(4)For the purposes of subsection (2), section 387 of that Act has effect as if subsections (1A) and (3A) were omitted.]
Textual Amendments
F1Pt. 1 Ch. 4 inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 97