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Part XIIU.K. Control Over Authorised Persons

Modifications etc. (not altering text)

C1Pt. 12 modified (1.12.2001) by S.I. 2001/3592, arts. 1(2), 114(3)(a) (with art. 23(2))

C3Pt. 12 excluded (26.7.2013 for specified purposes, 2.9.2013 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No.2) Order 2013 (S.I. 2013/1881), arts. 1(2)(5), 59(7)

C4Pt. 12 applied (with modifications) (13.8.2017 for specified purposes, 13.10.2017 in so far as nt already in force) by The Payment Services Regulations 2017 (S.I. 2017/752), reg. 1(2)(b)(iii)(3)(c), Sch. 6 para. 5 (with reg. 3)

[F1OffencesU.K.

Textual Amendments

F1Ss. 178-191G and cross-headings substituted (21.3.2009) for ss. 178-191 and cross-headings by The Financial Services and Markets Act 2000 (Controllers) Regulations 2009 (S.I. 2009/534), reg. 3, Sch. 1 (with reg. 8)

191FOffences under this PartU.K.

(1) A person who fails to comply with an obligation to notify the [F2appropriate regulator] under section 178(1) or 191D(1) is guilty of an offence.

(2)A person who gives notice to the [F2appropriate regulator] under section 178(1) and makes the acquisition to which the notice relates before the expiry date of the assessment period is guilty of an offence unless the [F2appropriate regulator] has approved the acquisition or given a warning notice under section 189(4)(b)(i) [F3or section 190A applies].

(3)A person who contravenes an interim condition in a warning notice given under section 189(4)(b)(i) or a condition in a decision notice given under section 189(7) or a final notice which confirms a decision notice under that section is guilty of an offence.

(4)A person who makes an acquisition in contravention of a warning notice given under section 189(4)(b)(ii) or a decision notice given under section 189(7) or a final notice which confirms a decision notice under that section is guilty of an offence.

[F4(4A)A person who fails to comply with a direction given by the Bank of England under section 190A(4) is guilty of an offence.]

(5)A person who makes an acquisition after the [F2appropriate regulator's] approval for the acquisition has ceased to be effective by virtue of section 191 is guilty of an offence.

(6)A person who provides information to the [F2appropriate regulator] which is false in a material particular is guilty of an offence.

(7)A person who breaches a direction contained in a restriction notice given under section 191B is guilty of an offence.

(8)A person guilty of an offence under subsection (1) to (3) or (5) to (7) is liable—

(a)on summary conviction to a fine not exceeding the statutory maximum; or

(b)on conviction on indictment, to a fine.

(9)A person guilty of an offence under subsection (4) [F5or (4A)] is liable—

(a)on summary conviction, to a fine not exceeding the statutory maximum; or

(b)on conviction on indictment, to imprisonment for a term not exceeding two years or a fine, or both.]

Textual Amendments

F2Words in Pt. 12 substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 26(2), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.