# Banking Act 2009, Section 83ZS: Determination of sanctions


When determining the type of sanction, and level of any penalty, to be imposed on a person under section 83ZR, the Bank of England must take into account all relevant circumstances, including where appropriate—
(a) the gravity and the duration of the failure,
(b) the degree of responsibility of the person,
(c) the financial strength of the person,
(d) the amount of profits gained or losses avoided by the person,
(e) the losses for third parties caused by the failure,
(f) the level of co-operation of the person with the Bank,
(g) previous failures by the person, and
(h) any potential systemic consequences of the failure.

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Source: https://www.legislation.gov.uk/ukpga/2009/1/section/83ZS (the official version)
Page: https://openlegislation.uk/banking-act-2009/section-83ZS
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.