{
  "url": "https://openlegislation.uk/financial-services-act-2012/section-13",
  "json_url": "https://openlegislation.uk/financial-services-act-2012/section-13.json",
  "legislation": "ukpga/2012/21",
  "legislation_title": "Financial Services Act 2012",
  "legislation_url": "https://openlegislation.uk/financial-services-act-2012",
  "path": "section/13",
  "kind": "section",
  "number": "13",
  "heading": "Prohibition orders",
  "text": "(1) Section 56 of FSMA 2000 (performance of regulated activities: prohibition orders) is amended as follows.\n(2) For subsection (1) substitute—\n“(1) The FCA may make a prohibition order if it appears to it that an individual is not a fit and proper person to perform functions in relation to a regulated activity carried on by—\n(a) an authorised person,\n(b) a person who is an exempt person in relation to that activity, or\n(c) a person to whom, as a result of Part 20, the general prohibition does not apply in relation to that activity.\n(1A) The PRA may make a prohibition order if it appears to it that an individual is not a fit and proper person to perform functions in relation to a regulated activity carried on by—\n(a) a PRA-authorised person, or\n(b) a person who is an exempt person in relation to a PRA-regulated activity carried on by the person.”\n(3) In subsection (2), for “The Authority may make an order (“a prohibition order”)” substitute “ A “prohibition order” is an order ”.\n(4) In subsection (3), for paragraph (b) substitute—\n“(b) all persons falling within subsection (3A) or a particular paragraph of that subsection or all persons within a specified class of person falling within a particular paragraph of that subsection.”\n(5) After subsection (3) insert—\n“(3A) A person falls within this subsection if the person is—\n(a) an authorised person,\n(b) an exempt person, or\n(c) a person to whom, as a result of Part 20, the general prohibition does not apply in relation to a regulated activity.”\n(6) In subsection (6), for “An authorised person” substitute “ A person falling within subsection (3A) ”.\n(7) In subsection (7)—\n(a) for “The Authority” substitute “ The regulator that has made a prohibition order ”, and\n(b) for “a prohibition order” substitute “ the order ”.\n(8) After subsection (7) insert—\n“(7A) If—\n(a) the FCA proposes to vary or revoke a prohibition order, and\n(b) as a result of the proposed variation or revocation, an individual—\n(i) will no longer be prohibited from performing a function of interest to the PRA, or\n(ii) will be prohibited from performing such a function,\nthe FCA must consult the PRA before varying or revoking the order.\n(7B) A function is of interest to the PRA if it is performed in relation to a regulated activity carried on by—\n(a) a PRA-authorised person, or\n(b) a person who is an exempt person in relation to a PRA-regulated activity carried on by the person.\n(7C) The PRA must consult the FCA before varying or revoking a prohibition order.”\n(9) Omit subsection (8).\n(10) Section 57 of FSMA 2000 (prohibition orders: procedure and right to refer to Tribunal) is amended as follows.\n(11) In subsections (1) and (3), for “the Authority” substitute “ a regulator ”.\n(12) At the end insert—\n“(6) If—\n(a) the FCA proposes to make a prohibition order, and\n(b) as a result of the proposed order, an individual will be prohibited from performing a function of interest to the PRA,\nthe FCA must consult the PRA before giving a warning notice under this section.\n(7) A function is of interest to the PRA if it is performed in relation to a regulated activity carried on by—\n(a) a PRA-authorised person, or\n(b) a person who is an exempt person in relation to a PRA-regulated activity carried on by the person.\n(8) The PRA must consult the FCA before giving a warning notice under this section.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "S. 13 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2012/21/section/13",
    "retrieved_at": "2026-10-29T09:08:36.918830+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}