# Financial Services and Markets Act 2023, Paragraph 139: Procedure: decision notice

Extent: E+W+S+N.I.

(1) If the Bank decides to impose a sanction on a person under paragraph 136(1) or (3) it must without delay give that person a decision notice.
(2) If the decision is to publish a statement, the decision notice must set out the terms of the statement.
(3) If the decision is to impose a penalty, the decision notice must specify the amount of the penalty.
(4) If the decision is to refrain from certain conduct, the decision notice must specify the conduct.
(5) If the decision is to impose a prohibition on holding an office or other position, the decision notice must specify the extent of the prohibition.
(6) Section 388 of FSMA 2000 applies in relation to a decision notice given under sub-paragraph (1) and the Bank as it applies in relation to a decision notice given under that Act and the regulator which gave that notice, subject to sub-paragraph (7).
(7) Section 388 of that Act has effect for the purposes of sub-paragraph (6) as if—
(a) in subsection (1)(e)(i) for “this Act” there were substituted “paragraph 141 of Schedule 11 to the Financial Services and Markets Act 2023”, and
(b) subsections (1A) and (2) were omitted.

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Source: https://www.legislation.gov.uk/ukpga/2023/29/schedule/11/paragraph/139 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2023/schedule-11/paragraph-139
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.