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Regulation 3 Prescribed action

Original text. Later amendments are not shown.

Prescribed action for the purposes of paragraph 8(1)(b) of Schedule 34 to the Finance Act 2014 means any action by a professional body which results in any claim of misconduct being referred to—

(a)

a disciplinary process which determines—

(i)

the seriousness of the misconduct, and

(ii)

the level of any penalty to be imposed; or

(b)

a conciliation, arbitration or similar settlement process (however described) which determines the seriousness of the misconduct and the level of any penalty to be imposed.