Financial Services and Markets Act 2000

[F1312HDecision noticeU.K.

This section has no associated Explanatory Notes

[F2(1)If the appropriate regulator decides to impose a sanction—

(a)on a recognised body [F3or data reporting service provider] under section 312E or 312F, or

(b)on a person under section 312FA,

it must give the body [F4, provider] or person (as the case may be) a decision notice.]

(2)In the case of a statement, the decision notice must set out the terms of the statement.

(3)In the case of a penalty, the decision notice must state the amount of the penalty.

[F5(3A)In the case of a prohibition, the decision notice must specify the extent of the prohibition.

(3B)The sanction which the appropriate regulator decides to impose may differ from that proposed in the warning notice.]

[F6(4)If the appropriate regulator decides to impose a sanction—

(a)on a recognised body [F7or data reporting service provider] under section 312E or 312F, or

(b)on a person under section 312FA,

the body [F8, provider] or person (as the case may be) may refer the matter to the Tribunal.

F9(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]]

Textual Amendments

F1Pt. 18 Ch. 3B inserted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 33, 122(3) (with Sch. 20); S.I. 2013/113, art. 2(1)(b)(c), Sch. Pts. 2, 3; S.I. 2013/423, art. 3, Sch.

Modifications etc. (not altering text)