# Financial Services and Markets Act 2000, Section 71B: Removal of directors and senior executives


(1) If the appropriate regulator is satisfied that the conditions in section 71D(1) and (2) are met in relation to a relevant firm, the appropriate regulator may require the firm to remove—
(a) any person who is a director of the firm;
(b) any person who is a senior executive of the firm.
(2) If the appropriate regulator imposes a requirement under subsection (1), the regulator may also require the relevant firm—
(a) to replace a director or senior executive who has been removed, and
(b) to take any step needed to give effect to the replacement, including, where necessary, calling a general meeting of the firm’s shareholders or members.
(3) If the appropriate regulator is satisfied that the condition in section 71D(4A) is met in relation to a person who is a director of an institution, of a financial holding company or of a mixed financial holding company, the appropriate regulator may require that institution, financial holding company or mixed financial holding company to remove that person from the board of directors.

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Source: https://www.legislation.gov.uk/ukpga/2000/8/section/71B (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000/section-71B
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.