{
  "url": "https://openlegislation.uk/banking-act-2009/section-206T",
  "json_url": "https://openlegislation.uk/banking-act-2009/section-206T.json",
  "legislation": "ukpga/2009/1",
  "legislation_title": "Banking Act 2009",
  "legislation_url": "https://openlegislation.uk/banking-act-2009",
  "path": "section/206T",
  "kind": "section",
  "number": "206T",
  "heading": "Penalty",
  "text": "(1) The Bank of England may require a recognised person to pay a penalty in respect of a compliance failure.\n(2) A penalty—\n(a) must be paid to the Bank, and\n(b) may be enforced by the Bank as a civil debt owed to the Bank.\n(3) The Bank must prepare a statement of the principles which it will apply in determining—\n(a) whether to impose a penalty, and\n(b) the amount of a penalty.\n(4) The Bank must—\n(a) publish the statement on its website,\n(b) send a copy to the Treasury,\n(c) review the statement from time to time and revise it if necessary (and paragraphs (a) and (b) apply to a revision), and\n(d) in applying the statement to a compliance failure, apply the version in force when the failure occurred.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Pt. 5A inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(d), Sch. 9 para. 1"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2009/1/section/206T",
    "retrieved_at": "2026-10-29T09:11:28.246347+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}