67 Disciplinary measures: procedure and right to refer to Tribunal.U.K.
(1)If [F1a regulator] proposes to take action against a person under section 66, it must give him a warning notice[F2; and if it proposes to take action under subsection (3)(aa) or (ab) of that section, it must also give each of the other interested parties a warning notice.]
(2)A warning notice about a proposal to impose a penalty must state the amount of the penalty.
[F3(2A)A warning notice about a proposal—
(a)to suspend an approval, or
(b)to impose a restriction in relation to the performance of a function,
must state the period for which the suspension or restriction is to have effect.]
(3)A warning notice about a proposal to publish a statement must set out the terms of the statement.
(4)If [F4a regulator] decides to take action against a person under section 66, it must give him a decision notice[F5; and if it decides to take action under subsection (3)(aa) or (ab) of that section, it must also give each of the other interested parties a decision notice.]
(5)A decision notice about the imposition of a penalty must state the amount of the penalty.
[F6(5A)A decision notice about—
(a)the suspension of an approval, or
(b)the imposition of a restriction in relation to the performance of a function,
must state the period for which the suspension or restriction is to have effect.]
(6)A decision notice about the publication of a statement must set out the terms of the statement.
(7)If [F7a regulator] decides to take action against a person under section 66, he may refer the matter to the Tribunal[F8; and if [F9the regulator] decides to take action under section 66(3)(aa) or (ab), each of the other interested parties may also refer the matter to the Tribunal.]
[F10(8)Approval” means an approval given under section 59.
(9)“Other interested parties”, in relation to [F11a person (“A”) in relation to whom approval has been given,] are—
(a)the person on whose application the approval was given (“B”); and
(b)the person by whom A's services are retained, if not B.
F12...]
Textual Amendments
F1Words in s. 67(1) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 5 para. 15(2) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F2Words in s. 67(1) inserted (8.6.2010) by Financial Services Act 2010 (c. 28), ss. 24(1), 26(2)(d)(e), Sch. 2 para. 9(2)
F3S. 67(2A) inserted (8.6.2010) by Financial Services Act 2010 (c. 28), ss. 24(1), 26(2)(d)(e), Sch. 2 para. 9(3)
F4Words in s. 67(4) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 5 para. 15(2) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F5Words in s. 67(4) inserted (8.6.2010) by Financial Services Act 2010 (c. 28), ss. 24(1), 26(2)(d)(e), Sch. 2 para. 9(4)
F6S. 67(5A) inserted (8.6.2010) by Financial Services Act 2010 (c. 28), ss. 24(1), 26(2)(d)(e), Sch. 2 para. 9(5)
F7Words in s. 67(7) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 5 para. 15(3)(a) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F8Words in s. 67(7) inserted (8.6.2010) by Financial Services Act 2010 (c. 28), ss. 24(1), 26(2)(d)(e), Sch. 2 para. 9(6)
F9Words in s. 67(7) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 5 para. 15(3)(b) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F10S. 67(8)(9) inserted (8.6.2010) by Financial Services Act 2010 (c. 28), ss. 24(1), 26(2)(d)(e), Sch. 2 para. 9(7)
F11Words in s. 67(9) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 5 para. 15(4)(a) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F12Words in s. 67(9) omitted (1.4.2013) by virtue of Financial Services Act 2012 (c. 21), s. 122(3), Sch. 5 para. 15(4)(b) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
Modifications etc. (not altering text)
C1S. 67 excluded (1.12.2001) by S.I. 2001/3592, arts. 1(2), 61(3), 85(5) (with art. 23(2))
C2Ss. 66-70 applied (with modifications) (1.11.2009) by The Payment Services Regulations 2009 (S.I. 2009/209), regs. 1(2)(c), 95, Sch. 5 para. 1 (with reg. 3) (as amended (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 155(6)(a) (with Sch. 2 para. 156))
C3Ss. 66-70 applied (with modifications) (11.2.2010) by The Cross-Border Payments in Euro Regulations 2010 (S.I. 2010/89), reg. 19, Sch. para. 1
C4Ss. 66-70 applied (with modifications) (30.4.2011) by The Electronic Money Regulations 2011 (S.I. 2011/99), regs. 1(2)(b), 62, Sch. 3 para. 1 (with art. 3) (as amended (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 196(5)(a))
C5Ss. 66-70 applied (with modifications) (15.1.2013) by The Payments in Euro (Credit Transfers and Direct Debits) Regulations 2012 (S.I. 2012/3122), reg. 1, Sch. para. 1 (as amended (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 248(6)(a))
C6S. 67 applied (with modifications) (26.7.2013 for specified purposes) by The Financial Services Act 2012 (Consumer Credit) Order 2013 (S.I. 2013/1882), arts. 1(1), 3(3)
C7S. 67(4) modified (1.12.2001) by S.I. 2001/3592, arts. 1(2), 73(2), 74(2) (with art. 23(2))