{
  "url": "https://openlegislation.uk/financial-services-banking-reform-act-2013/section-28",
  "json_url": "https://openlegislation.uk/financial-services-banking-reform-act-2013/section-28.json",
  "legislation": "ukpga/2013/33",
  "legislation_title": "Financial Services (Banking Reform) Act 2013",
  "legislation_url": "https://openlegislation.uk/financial-services-banking-reform-act-2013",
  "path": "section/28",
  "kind": "section",
  "number": "28",
  "heading": "Extension of limitation periods for imposing sanctions",
  "text": "(1) Section 63A of FSMA 2000 (power to impose penalties) is amended as follows.\n(2) In subsection (4), for “period of three years” substitute “ relevant period ”.\n(3) After subsection (5A) insert—\n“(5B) The relevant period” is—\n(a) in relation to the performance of a controlled function without approval before the day on which this subsection comes into force, the period of 3 years, and\n(b) in relation to the performance of a controlled function without approval on or after that day, the period of 6 years.”\n(4) Section 66 of FSMA 2000 (disciplinary powers) is amended as follows.\n(5) In subsection (4), for “period of three years” substitute “ relevant period ”.\n(6) After subsection (5) insert—\n“(5ZA) The relevant period” is—\n(a) in relation to misconduct which occurs before the day on which this subsection comes into force, the period of 3 years, and\n(b) in relation to misconduct which occurs on or after that day, the period of 6 years.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "S. 28 in force at 25.7.2014 by S.I. 2014/1819, art. 2(1)(c)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2013/33/section/28",
    "retrieved_at": "2026-10-29T09:07:58.389751+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."
}