Regulation 5 Consultation in the case of major sanctions or exceptional measures

varies the Part IV permission of a member of a financial conglomerate (“D”);

publishes a statement under section 205 of the Act (public censure) that it considers that D has contravened a requirement imposed on him by or under the Act;

imposes a penalty on D in respect of such a contravention under section 206 of the Act (financial penalties); or

exercises any of its powers (other than its powers under section 381, 383 or 384(2)) under Part XXV of the Act (injunctions and restitution) in relation to D,

where the F2relevant regulator considers that there is an urgent need to act;

where relevant regulator considers that such consultation may jeopardise the effectiveness of the action mentioned in paragraph (1); or

where regulation 3, 8(3) or (4), 9 or 10 applies.