PART 4

Conduct of persons working in financial services sector

Offence

Institution of proceedings
38
1
In this section “an offence” means an offence under section 36.
2
Proceedings for an offence may be instituted in England and Wales only—
a
by the FCA, the PRA or the Secretary of State, or
b
by or with the consent of the Director of Public Prosecutions.
3
Proceedings for an offence may be instituted in Northern Ireland only—
a
by the FCA, the PRA or the Secretary of State, or
b
by or with the consent of the Director of Public Prosecutions for Northern Ireland.
4
In exercising its power to institute proceedings for an offence, the FCA or the PRA must comply with any conditions or restrictions imposed in writing by the Treasury.
5
Conditions or restrictions may be imposed under subsection (4) in relation to—
a
proceedings generally, or
b
such proceedings, or categories of proceedings, as the Treasury may direct.
S. 38 in force at 7.3.2016 by S.I. 2015/490, art. 2(1)(c) (with savings and transitional provisions in S.I. 2015/492 (as amended by S.I. 2015/1660))