F1PART 20APENSIONS GUIDANCE
Standards for giving of pensions guidance by designated guidance providers
333MFailure by designated guidance providers to comply with standards: Treasury directions
(1)
If the Treasury consider that a designated guidance provider has failed to comply with a standard set under section 333H the Treasury may direct the provider to take such steps as the Treasury consider appropriate—
(a)
to prevent the continuance or recurrence of the failure;
(b)
to make redress to those affected by the failure.
(2)
The Treasury may give a direction under subsection (1) only if the FCA has made a recommendation under section 333J(1)(b) (although the terms of the direction need not be the same as that recommended by the FCA).
(3)
The Treasury must—
(a)
give notice in writing of a direction under subsection (1), and
(b)
send a copy of the notice to the FCA.
(4)
The notice must inform the designated guidance provider that representations about why the direction should not be published may be made to the Treasury within a specified time.
(5)
Once the time specified under subsection (4) has elapsed, the Treasury must publish the direction unless—
(a)
the Treasury consider that to do so would be against the public interest;
(b)
having considered representations made by the designated guidance provider within the specified time, the Treasury consider that it would be inappropriate to do so for some other reason.
(6)
If the condition in subsection (5)(a) or (b) is satisfied in relation to a direction but would not be satisfied if the Treasury published part only of the direction, the Treasury may publish that part.
(7)
A direction under subsection (1) is enforceable, on an application made by the Treasury, by injunction or, in Scotland, by an order for specific performance under section 45 of the Court of Session Act 1988.