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Financial Services and Markets Act 2023
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- UK Public General Acts
- 2023 c. 29
- SCHEDULE 11
- PART 6
- Paragraph 134
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- 31/12/2023- Amendment
- 31/12/2024
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Offences under paragraph 132 by bodies corporate etcU.K.
This section has no associated Explanatory Notes
134(1)If an offence under paragraph 132 committed by a body corporate is shown—
(a)to have been committed with the consent or connivance of an officer, or
(b)to be attributable to any neglect on the part of an officer,
the officer as well as the body corporate is guilty of the offence and liable to be proceeded against and punished accordingly.
(2)If the affairs of a body corporate are managed by its members, sub-paragraph (1) applies in relation to the acts and defaults of a member in connection with that member’s functions of management as if that member were a director of the body.
(3)If an offence under paragraph 132 committed by a partnership is shown—
(a)to have been committed with the consent or connivance of a partner, or
(b)to be attributable to any neglect on the part of a partner,
the partner as well as the body corporate is guilty of the offence and liable to be proceeded against and punished accordingly.
(4)In sub-paragraph (3) “partner” includes a person purporting to act as partner.
(5)“Officer” in relation to a body corporate means—
(a)a director, member of the committee of management, chief executive, manager, secretary or other similar officer of the body, or a person purporting to act in any such capacity, and
(b)an individual who is a controller of the body (and for these purposes, “controller” has the meaning given in section 422 of FSMA 2000).
(6)If an offence under paragraph 132 committed by an unincorporated association (other than a partnership) is shown—
(a)to have been committed with the consent or connivance of an officer of the association or a member of its governing body, or
(b)to be attributable to any neglect on the part of such an officer or member,
the officer or member as well as the association is guilty of the offence and liable to be proceeded against and punished accordingly.
Commencement Information
I1Sch. 11 para. 134 not in force at Royal Assent, see s. 86(3)
I2Sch. 11 para. 134 in force at 31.12.2023 by S.I. 2023/1382, reg. 8(b)
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