{
  "url": "https://openlegislation.uk/public-offers-and-admissions-to-trading-regulations-2024/regulation-40/enacted",
  "json_url": "https://openlegislation.uk/public-offers-and-admissions-to-trading-regulations-2024/regulation-40/enacted.json",
  "legislation": "uksi/2024/105",
  "legislation_title": "The Public Offers and Admissions to Trading Regulations 2024",
  "legislation_url": "https://openlegislation.uk/public-offers-and-admissions-to-trading-regulations-2024/enacted",
  "path": "regulation/40",
  "kind": "regulation",
  "number": "40",
  "heading": "Penalties for contraventions",
  "text": "(1) If the FCA finds that a person is failing or has failed to comply with the person’s obligations under an applicable provision, it may impose on that person a penalty of such amount as it considers appropriate.\n(2) If, in the case of a contravention by a person (P) of an applicable provision, the FCA considers that a person who was at the material time a relevant officer of P was knowingly concerned in the contravention, it may impose on that person a penalty of such amount as it considers appropriate.\n(3) In this regulation—\n“an applicable provision” means—\na provision of these Regulations, or\na provision of regulated market admission rules or of designated activity rules made by virtue of regulation 15 or 17;\n“relevant officer” of a person means—\na director or other similar officer of the person, or\nif the affairs of the person are managed by its members, a member of the person.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "enacted",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 40 in force at 30.1.2024 for specified purposes and otherwise in accordance with reg. 2(3), see reg. 2(2)(3)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2024/105/regulation/40",
    "retrieved_at": "2026-10-28T21:35:24.635898+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."
}