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Financial Services and Markets Act 2000, Section 93 is up to date with all changes known to be in force on or before 23 August 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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(1)The [F1FCA] must prepare and issue a statement (“its policy statement”) of its policy with respect to—
(a)the imposition of penalties under section 91; and
(b)the amount of penalties under that section.
(2)The [F1FCA's] policy in determining what the amount of a penalty 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 the person on whom the penalty is to be imposed is an individual.
(3)The [F1FCA] may at any time alter or replace its policy statement.
(4)If its policy statement is altered or replaced, the [F1FCA] must issue the altered or replacement statement.
(5)In exercising, or deciding whether to exercise, its power under section 91 in the case of any particular contravention, the [F1FCA] must have regard to any policy statement published under this section and in force at the time when the contravention in question occurred.
(6)The [F1FCA] must publish a statement issued under this section in the way appearing to the [F1FCA] to be best calculated to bring it to the attention of the public.
(7)The [F1FCA] may charge a reasonable fee for providing a person with a copy of the statement.
(8)The [F1FCA] must, without delay, give the Treasury a copy of any policy statement which it publishes under this section.
Textual Amendments
F1Words in ss. 89A-97 substituted (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. 16(2)(3)(g), 122(3) (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch.
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