Part V Performance of Regulated Activities

Conduct of approved persons and others

67 Disciplinary measures: procedure and right to refer to Tribunal.

(1)

If F1a regulator proposes to take action against a person under section 66, it must give him a warning noticeF2; and if it proposes to take action under subsection (3)(aa) or (ab) of that section, it must also give each of the other interested parties a warning notice.

(2)

A warning notice about a proposal to impose a penalty must state the amount of the penalty.

F3(2A)

A warning notice about a proposal—

(a)

to suspend an approval, or

(b)

to impose a restriction in relation to the performance of a function,

must state the period for which the suspension or restriction is to have effect.

(3)

A warning notice about a proposal to publish a statement must set out the terms of the statement.

(4)

If F4a regulator decides to take action against a person under section 66, it must give him a decision noticeF5; and if it decides to take action under subsection (3)(aa) or (ab) of that section, it must also give each of the other interested parties a decision notice.

(5)

A decision notice about the imposition of a penalty must state the amount of the penalty.

F6(5A)

A decision notice about—

(a)

the suspension of an approval, or

(b)

the imposition of a restriction in relation to the performance of a function,

must state the period for which the suspension or restriction is to have effect.

(6)

A decision notice about the publication of a statement must set out the terms of the statement.

(7)

If F7a regulator decides to take action against a person under section 66, he may refer the matter to the TribunalF8; and if F9the regulator decides to take action under section 66(3)(aa) or (ab), each of the other interested parties may also refer the matter to the Tribunal.

F10(8)

Approval” means an approval given under section 59.

(9)

“Other interested parties”, in relation to F11a person (“A”) in relation to whom approval has been given, are—

(a)

the person on whose application the approval was given (“B”); and

(b)

the person by whom A's services are retained, if not B.

F12...