PART 3Administration and enforcement
CHAPTER 4Measures in relation to individuals
Temporary prohibition orders: procedure12
1
Section 57 M1 (prohibition orders: procedure and right to refer to Tribunal) of the Act applies to a temporary prohibition order made under regulation 11 as it applies to a prohibition order made under section 56 M2 of the Act (prohibition orders), but with—
a
the references to a regulator being read to refer to—
i
the Bank, where the counterparty referred to in paragraph 11(1) is a recognised central counterparty F1or a recognised CSD; or
ii
the FCA, where the counterparty referred to in paragraph 11(1) is any other financial or non-financial counterparty; and
b
subsections (6), (7) and (8) of section 57 omitted.
2
Section 58 M3 of the Act (applications relating to prohibitions: procedure and right to refer to Tribunal) applies to an application made under regulation 11(5) to the relevant regulator for the variation or revocation of a temporary prohibition order made under regulation 11 as it applies to an application for the variation or revocation of a prohibition order made to the appropriate regulator under section 56 of the Act.