# The Securitisation Regulations 2023, Regulation 48: Restriction on penalties


(1) A person who is convicted of an offence under section 398 of FSMA 2000 as applied by paragraph 13 of Schedule 1 to these Regulations is not subsequently liable to a penalty under regulation 42 (financial penalties) in respect of the same act or omission.
(2) A person on whom a penalty has been imposed under regulation 42 (financial penalties) is not subsequently liable for an offence under section 398 of FSMA 2000 as applied by paragraph 13 of Schedule 1 to these Regulations in respect of the same act or omission.

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Source: https://www.legislation.gov.uk/ukdsi/2023/9780348254242/regulation/48 (the official version)
Page: https://openlegislation.uk/draft-securitisation-regulations-2023/regulation-48
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.