# Banking Act 2009, Section 206V: Management disqualification


(1) The Bank of England may by order prohibit a specified person from holding an office or position involving responsibility for taking decisions about the management of a recognised person—
(a) for a specified period,
(b) until further notice, or
(c) permanently.
(2) A person who breaches a prohibition under subsection (1) commits an offence.
(3) A person who commits an offence under this section is liable—
(a) on summary conviction in England and Wales, to a fine;
(b) on summary conviction in Scotland, to a fine not exceeding the statutory maximum;
(c) on summary conviction in Northern Ireland, to a fine not exceeding the statutory maximum;
(d) on conviction on indictment, to a fine.
(4) In this section, “specified” means specified in the order.

---
Source: https://www.legislation.gov.uk/ukpga/2009/1/section/206V (the official version)
Page: https://openlegislation.uk/banking-act-2009/section-206V
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.