# The Securitisation Regulations 2024, Regulation 48: Restriction on penalties

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

(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.
(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.

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Source: https://www.legislation.gov.uk/uksi/2024/102/regulation/48 (the official version)
Page: https://openlegislation.uk/securitisation-regulations-2024/regulation-48
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.