Paragraph 9

England and Wales

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch. para. 5(3)(a) words substituted by Legal Services Act 2007 Sch. 19 para. 11(2)
Sch. para. 7(e) words substituted by Legal Services Act 2007 Sch. 19 para. 11(3)(a)
Sch. para. 7(g) words substituted by Legal Services Act 2007 Sch. 19 para. 11(3)(b)
Sch. para. 7(g) words inserted by Legal Services Act 2007 Sch. 19 para. 11(3)(b)
Sch. para. 8(2)(a)(ii) words substituted by Legal Services Act 2007 Sch. 19 para. 11(4)
Sch. para. 9(2)(a)(ii) words substituted by Legal Services Act 2007 Sch. 19 para. 11(5)

(1)

Regulations shall enable the Regulator to issue one or more codes of practice about the professional conduct of authorised persons.

(2)

Regulations under sub-paragraph (1) shall include provision—

(a)

about the manner in which a code is to be prepared and published (which may, in particular, include provision requiring—

(i)

consultation;

(ii)

the submission of a draft to the Secretary of State for approval);

(b)

about the consequences of failure to comply with a code (which may, in particular—

(i)

provide for compliance with a code to be treated as a condition of authorisations;

F1(ia)

enable the Regulator to require an authorised person to pay a penalty;

(ii)

enable the Regulator to impose conditions on, suspend or cancel authorisations).

Annotations

F1: Sch. para. 9(2)(b)(ia) inserted (21.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 139(3), 148(3); S.I. 2014/772, art. 2