{
  "url": "https://openlegislation.uk/securitisation-regulations-2024/regulation-48",
  "json_url": "https://openlegislation.uk/securitisation-regulations-2024/regulation-48.json",
  "legislation": "uksi/2024/102",
  "legislation_title": "The Securitisation Regulations 2024",
  "legislation_url": "https://openlegislation.uk/securitisation-regulations-2024",
  "path": "regulation/48",
  "kind": "regulation",
  "number": "48",
  "heading": "Restriction on penalties",
  "text": "(1) A person who is convicted of an offence under section 398 of FSMA 2000 as applied by paragraph 13 of Schedule 1 to these Regulations is not subsequently liable to a penalty under regulation 42 (financial penalties) in respect of the same act or omission.\n(2) A person on whom a penalty has been imposed under regulation 42 (financial penalties) is not subsequently liable for an offence under section 398 of FSMA 2000 as applied by paragraph 13 of Schedule 1 to these Regulations in respect of the same act or omission.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 48 in force at 30.1.2024 for specified purposes and 1.11.2024 (the main commencement day) in so far as not already in force, see reg. 2(1)(e)(2)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2024/102/regulation/48",
    "retrieved_at": "2026-10-28T21:35:26.902265+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."
}