[F1 PART 2 U.K. Regulatory Enforcement

Textual Amendments

F1 Pt. 2 substituted (4.5.2016 for specified purposes, 1.10.2017 in so far as not already in force) by Enterprise Act 2016 (c. 12), ss. 20(1), 44(1)(c); S.I. 2017/473, reg. 3(b)

Cases with more than one primary authority U.K.

29B Concurrent duties to notify primary authorities of enforcement action U.K.

(1) This section applies if—

(a) a qualifying regulator is nominated as a co-ordinated primary authority for the exercise of a function in relation to a person,

(b) an enforcing authority proposes to take enforcement action against the person pursuant to the function, and

(c) because of the nomination mentioned in paragraph (a), the enforcing authority is (ignoring this section) required under section 25C(2)(a) to notify the co-ordinated primary authority of the proposed enforcement action.

(2) That requirement to notify the co-ordinated primary authority does not apply if condition A or B is met.

(3) Condition A is that under section 25C(2)(a) the enforcing authority is required to notify another qualifying regulator of the proposed enforcement action because of that other qualifying regulator's nomination as a direct primary authority for the exercise of the function in relation to the person.

(4) Condition B is that—

(a) condition A is not met,

(b) the enforcing authority is (ignoring this section) required under section 25C(2)(a) to notify at least one other qualifying regulator of the proposed enforcement action because of that other regulator's nomination as a co-ordinated primary authority for the exercise of the function in relation to the person, and

(c) the enforcing authority has so notified that other regulator or (if there is more than one) it has so notified at least one of them.]