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Section 312H Decision noticeF1C1C2

United Kingdom

(F21)

If the appropriate regulator decides to impose a sanction—

(a)

on a recognised body F3or data reporting service provider under section 312E or 312F, or

(b)

on a person under section 312FA,

it must give the body F4, provider or person (as the case may be) a decision notice.

(2)

In the case of a statement, the decision notice must set out the terms of the statement.

(3)

In the case of a penalty, the decision notice must state the amount of the penalty.

(F53A)

In the case of a prohibition, the decision notice must specify the extent of the prohibition.

(3B)

The sanction which the appropriate regulator decides to impose may differ from that proposed in the warning notice.

(F64)

If the appropriate regulator decides to impose a sanction—

(a)

on a recognised body F7or data reporting service provider under section 312E or 312F, or

(b)

on a person under section 312FA,

the body F8, provider or person (as the case may be) may refer the matter to the Tribunal.

F9(5)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annotations

Textual amendments

F1

Pt. 18 Ch. 3B inserted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 33, 122(3) (with Sch. 20); S.I. 2013/113, art. 2(1)(b)(c), Sch. Pts. 2, 3; S.I. 2013/423, art. 3, Sch.

F2

S. 312H(1) substituted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), regs. 1, 2(31)(a) (with regs. 7(4), 9(1))

F3

Words in s. 312H(1) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 11(8)(a)(ii), 86(3); S.I. 2023/779, reg. 4(g)

F4

Words in s. 312H(1)(a) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 11(8)(a)(i), 86(3); S.I. 2023/779, reg. 4(g)

F5

S. 312H(3A)(3B) inserted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), regs. 1, 2(31)(b) (with regs. 7(4), 9(1))

F6

S. 312H(4) substituted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), regs. 1, 2(31)(c) (with regs. 7(4), 9(1))

F7

Words in s. 312H(4)(a) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 11(8)(b)(i), 86(3); S.I. 2023/779, reg. 4(g)

F8

Word in s. 312H(4) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 11(8)(b)(ii), 86(3); S.I. 2023/779, reg. 4(g)

F9

S. 312H(5) omitted (31.12.2020) by virtue of The Investment Exchanges, Clearing Houses and Central Securities Depositories (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/662), regs. 1(3), 8(6) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

Modifications

C1

Ss. 312E-312I restricted (1.4.2013) by The Financial Services Act 2012 (Transitional Provisions) (Enforcement) Order 2013 (S.I. 2013/441), arts. 1(1), 13

C2

S. 312H applied (with modifications) (13.7.2016) by The Financial Services and Markets Act 2000 (Transparency of Securities Financing Transactions and of Reuse) Regulations 2016 (S.I. 2016/715), regs. 1(2), 13

Notes on Part XVIII

Textual amendments

F1

Pt. 18 heading substituted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), regs. 1, 2(8) (with regs. 7(4), 9(1))

F2

Words in Pt. 18 heading substituted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 18(2), 86(3); S.I. 2023/779, reg. 4(m)

Modifications

C1

Pt. 18 applied in part (with modifications) (12.12.2011) by The Recognised Auction Platforms Regulations 2011 (S.I. 2011/2699), reg. 7, Sch. 2 (as amended (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), reg. 1, Sch. para. 37 (with regs. 7(4), 9(1)))

Notes on Chapter 3B

Textual amendments

F2

Words in Pt. 18 Ch. 3B heading inserted (29.6.2023 for specified purposes) by Financial Services and Markets Act 2023 (c. 29), s. 86(1)(e), Sch. 10 para. 9

Modifications

C1

Pt. 18 Ch. 3B applied (with modifications) (5.4.2024) by The Data Reporting Services Regulations 2024 (S.I. 2024/107), regs. 1(2), 19; S.I. 2023/1382, reg. 4(c)