# The Finance Act 2014 (Schedule 34 Prescribed Matters) Regulations 2015, Regulation 3: Prescribed action


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.

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Source: https://www.legislation.gov.uk/uksi/2015/131/regulation/3 (the official version)
Page: https://openlegislation.uk/finance-act-2014-schedule-34-prescribed-matters-regulations-2015/regulation-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.