Banking Act 2009

200Management disqualificationU.K.

This section has no associated Explanatory Notes

(1)The Bank of England may by order prohibit a specified person from being an operator of a recognised F1... payment system [F2or from being a DSA service provider]—

(a)for a specified period,

(b)until further notice, or

(c)permanently.

(2)The Bank may by order prohibit a specified person from holding an office or position involving responsibility for taking decisions about the management of a recognised F1... payment system [F3, or a recognised DSA service provider,] [F4or about the management of a service provider in relation to such a system] [F5or such a DSA service provider]—

(a)for a specified period,

(b)until further notice, or

(c)permanently.

[F6(2A)Before making an order under subsection (2) in respect of a service provider, the Bank must have regard to the public interest in the continued operation of each recognised payment system [F7, or of each recognised DSA service provider,] in relation to which the service provider is specified under section 206A(2)(b). [F8or 206A(2A)(b) (as the case may be).]]

(3)A person who breaches a prohibition under subsection (1) or (2) commits an offence.

(4)A person guilty of an offence is liable—

(a)on summary conviction, to a fine not exceeding the statutory maximum, or

(b)on conviction on indictment, to a fine.

Textual Amendments

F1Word in s. 200(1)(2) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 22

Commencement Information

I1S. 200 in force at 12.11.2009 for specified purposes and 31.12.2009 in so far as not already in force by S.I. 2009/3000, arts. 2, 4, Sch. para. 2