61Suspension of officers etc. during or following inquiries
(1)The Regulator, when making or having made inquiries, may suspend a responsible individual (pending decision on removal or otherwise) where it considers—
(a)that there has been misconduct or mismanagement in a registered social landlord’s financial or other affairs,
(b)that the interests of a registered social landlord’s tenants need protection,
(c)that a registered social landlord’s assets need protection, or
(d)that the responsible individual—
(i)is, during a moratorium under section 75, obstructing the Regulator from performing its functions under Part 7, or
(ii)is not co-operating in accordance with section 84(2).
(2)The Regulator, unless it considers the case to be one of urgency, must give at least 14 days’ notice of its intention to suspend a responsible individual to—
(a)the responsible individual, and
(b)the registered social landlord.
(3)A suspension ceases to have effect—
(a)if the Regulator removes the individual or lifts the suspension, or
(b)where the Regulator does not so act, on the day falling 6 months after the inquiries concerned are concluded.
(4)The Regulator may give the registered social landlord directions about—
(a)the performance of a suspended individual’s functions,
(b)any other matter arising from the suspension,
and may appoint an individual, on such terms as it thinks fit, to perform the suspended individual’s functions.
(5)It is an offence for a suspended individual to take any action in relation to the management or control of—
(a)the registered social landlord concerned, or
(b)any other registered social landlord,
without the Regulator’s consent.
(6)An individual guilty of such an offence is liable on summary conviction to a fine not exceeding level 5 on the standard scale.