C1C13C15 Part XIV Disciplinary Measures

Annotations:
Modifications etc. (not altering text)
C1

Pt. XIV (ss. 205-211) applied (1.12.2001) by 1951 c. 65, s. 57(5) (as substituted (1.12.2001) by S.I. 2001/3647, art. 5, Sch. 3 Pt. I para. 5(3))

C13

Pt. 14 applied (with modifications) (26.7.2013 for specified purposes, 1.4.2014 in so far as not already in force) by The Financial Services Act 2012 (Consumer Credit) Order 2013 (S.I. 2013/1882), arts. 1(1), 3(7)

C15

Pt. 14 applied (with modifications) (26.7.2013 for specified purposes, 1.4.2014 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)(6), 12(10)

C3C4C5C6C7C17C18C11C19C13C15C12C8C21C16C9C10C20C14C22210 Statements of policy.

1

F12Each regulator must prepare and issue a statement of its policy with respect to—

F1a

the imposition of penalties, suspensions or restrictions under this Part;

b

the amount of penalties under this Part; and

c

the period for which suspensions or restrictions under this Part are to have effect.

F141A

Each regulator's policy with respect to the imposition of penalties, suspensions or restrictions under this Part must include policy with respect to their imposition in relation to conduct which constitutes or may constitute an offence by virtue of section 23(1A) (authorised persons carrying on credit-related regulated activities otherwise than in accordance with permission).

2

F6A regulator's policy in determining what the amount of a penalty should be F2, or what the period for which a suspension or restriction is to have effect should be, must include having regard to—

a

the seriousness of the contravention in question in relation to the nature of the requirement contravened;

b

the extent to which that contravention was deliberate or reckless; and

c

whether F3the person against whom action is to be taken is an individual.

3

F5A regulator may at any time alter or replace a statement issued F16by it under this section.

4

If a statement issued under this section is altered or F10replaced by a regulator, the regulator must issue the altered or replacement statement.

5

F9A regulator must, without delay, give the Treasury a copy of any statement which it publishes under this section.

6

A statement issued under this section F8by a regulator must be published by the F15regulator in the way appearing to the F15regulator to be best calculated to bring it to the attention of the public.

C27

In exercising, or deciding whether to exercise, its power under section 206 F4or 206A in the case of any particular contravention, F13a regulator must have regard to any statement published F7by it under this section and in force at the time when the contravention in question occurred.

8

The F11regulator may charge a reasonable fee for providing a person with a copy of the statement.