Paragraph 5 Power to directI1I2
Scotland
The Lord President may direct the regulator to take—
in a case falling within paragraph 4(a), such action as the Lord President considers will counter the adverse impact, mitigate its effect or prevent its recurrence,
in a case falling within paragraph 4(b) or (c), such action as the Lord President considers will remedy the failure, mitigate its effect or prevent its recurrence.
A direction under sub-paragraph (1) must not be framed by reference to—
a specific disciplinary case, or
other specific regulatory proceedings.
A direction under sub-paragraph (1) may require the regulator to refrain from doing something.
The regulator must (so far as practicable) comply with a direction given to it in accordance with this Part.
Annotations
Commencement
- I1
Sch. 2 para. 5 not in force at Royal Assent, see s. 103(3)
- I2
Sch. 2 para. 5 in force at 5.3.2026 for specified purposes by S.S.I. 2026/96, reg. 2(1)(2), sch. 1