199Closure
(1)This section applies if the Bank of England thinks that a compliance failure—
(a)threatens the stability of, or confidence in, the UK financial system, or
(b)has serious consequences for business or other interests throughout the United Kingdom.
(2)The Bank may give the operator of the inter-bank payment system concerned an order to stop operating the system (a “closure order”)—
(a)for a specified period,
(b)until further notice, or
(c)permanently.
(3)A closure order may apply to—
(a)all activities of the payment system, or
(b)specified activities.
(4)An operator who fails to comply with a closure order commits an offence.
(5)A person guilty of an offence is liable—
(a)on summary conviction, to a fine not exceeding the statutory maximum, or
(b)on conviction on indictment, to a fine.