Section 63B Procedure and right to refer to TribunalF1 C1

United Kingdom

(1)

If F2a regulator proposes to impose a penalty on a person under section 63A, it must give the person a warning notice.

(2)

A warning notice must state the amount of the penalty.

(3)

If a regulator decides to impose a penalty on a person under section 63A, it must give the person a decision notice.

(4)

A decision notice must state the amount of the penalty.

(5)

If a regulator decides to impose a penalty on a person under section 63A, the person may refer the matter to the Tribunal.

Annotations

F1: Ss. 63A-63D and preceding cross-heading inserted (8.6.2010) by Financial Services Act 2010 (c. 28), ss. 11, 26(2)(b)
F2: Words in s. 63B substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 5 para. 9 (with Sch. 20); S.I. 2013/423, art. 3, Sch.

C1: Ss. 63A-63C applied (with modifications) (1.4.2013) by The Financial Services Act 2012 (Transitional Provisions) (Enforcement) Order 2013 (S.I. 2013/441), arts. 1(1), 2(2)

C1: Pt. 5 modified (1.12.2001) by S.I. 2001/3592, arts. 1(2), 114(3)(a), 128(3)(a) (with art. 23(2))
C2: Pt. 5 modified (7.11.2018) by The EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018 (S.I. 2018/1149), regs. 1(2), 23 (with regs. 4, 22, 26(1)(2)) (as amended (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 6(2))
C3: Pt. 5 modified by S.I. 2018/1149, reg. 69 (as inserted (1.3.2019) by The Financial Services Contracts (Transitional and Saving Provision) (EU Exit) Regulations 2019 (S.I. 2019/405), regs. 1(2), 4)