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Article 105 Blocking and publication

Original text. Later amendments are not shown.

(1)

The administrator may impose the penalty of blocking until—

(a)

the failure is remedied; and

(b)

any financial penalty imposed in respect of the same failure is paid.

(2)

Publication—

(a)

must not take place until the time to appeal against the penalty under Part 16 has expired and—

(i)

no appeal against the penalty has been made; or

(ii)

where an appeal against the penalty has been made and the participant is unsuccessful in that appeal, until after the disposal of that appeal;

(b)

lasts for one year but the administrator may impose the penalty for a longer period, if it believes the seriousness of the failure justifies such longer period.

(3)

In this Part—

  • “blocking” means to prevent or restrict the operation of an account of a participant;

  • “publication” means to publish on a part of the Registry which is accessible to the public—

    1. (a)

      the name of the participant; and

    2. (b)

      details of the failure in respect of which a civil penalty has been imposed.