# Banking Act 2009, Section 201: Warning

Extent: E+W+S+N.I.

(1) Before imposing a sanction on the operator of a payment system , on a DSA service provider, , on a service provider in relation to such a system or such a DSA service provider or on another person the Bank of England must—
(a) give the operator , DSA service provider , service provider or other person a notice (a “warning notice”),
(b) give the operator , DSA service provider , service provider or other person at least 21 days to make representations,
(c) consider any representations made, and
(d) as soon as is reasonably practicable, give the operator , DSA service provider , service provider or other person a notice stating whether or not the Bank intends to impose the sanction.
(1A) Before imposing a sanction on a person who is a service provider in relation to a recognised payment system or recognised DSA service provider the Bank must also—
(a) give the operator of the payment system , or DSA service provider a notice (a “warning notice”),
(b) give the operator , or DSA service provider at least 21 days to make representations,
(c) consider any representations made, and
(d) as soon as reasonably practicable, give the operator or DSA service provider a notice stating whether the Bank intends to impose the sanction.
(2) In subsections (1) and (1A) “imposing a sanction” means—
(a) publishing details under section 197(1),
(b) requiring the payment of a penalty under section 198,
(c) giving a closure order under section 199, or
(d) making an order under section 200.
(3) Despite subsections (1) and (1A), if satisfied that it is necessary the Bank may without notice—
(a) give a closure order under section 199, or
(b) make an order under section 200.

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Source: https://www.legislation.gov.uk/ukpga/2009/1/section/201 (the official version)
Page: https://openlegislation.uk/banking-act-2009/section-201
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.