OpenLegislation

Regulation 6 Prescribed relevant sanction

Original text. Later amendments are not shown.

(1)

In paragraph 9 of Schedule 34 to the Finance Act 2014 a sanction is prescribed under sub-paragraph (2)(b) if a regulatory authority imposes one or more of the following in relation to a person—

(a)

a fine or financial penalty;

(b)

a suspension of an approval issued by the regulatory authority to perform any function to which the approval relates;

(c)

the imposition of limitations or other restrictions in relation to the performance of any function to which any approval issued by the regulatory authority relates;

(d)

the imposition of any conditions in relation to any approval issued by the regulatory authority.

(2)

A sanction is also prescribed in relation to a person if a regulatory authority publishes a statement of misconduct by that person.