Schedule 17A, Part 2, paragraph 14

The power conferred by section 168(5) (appointment of persons to carry out investigations in particular cases) is exercisable by the Bank. That power is exercisable if it appears to the Bank that there are circumstances suggesting that— a clearing house or a central securities depository may be guilty of ... an offence under prescribed regulations relating to money laundering; a clearing house or a central securities depository person may have contravened a rule made by the Bank under this Part of this Act; a clearing house or a central securities depository may have contravened the recognition requirements; a clearing house or a central securities depository may have contravened any qualifying provision that is specified, or of a description specified, for the purposes of this sub-paragraph by the Treasury by order; a clearing house or a central securities depository may have breached the general prohibition. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . a person may be guilty of an offence under section 398(1), as applied by paragraph 30 of this Schedule; a Tier 2 third country central counterparty may have contravened the requirements of the EMIR regulation. an individual may not be a fit and proper person to perform functions in relation to an activity carried on by a relevant recognised body; an individual may have performed, or agreed to perform, a function in breach of a Part 18 prohibition order; a relevant recognised body may have failed to comply with section 309F(1); a relevant recognised body may have failed to comply with section 309G(1); a person in relation to whom the Bank has given approval under section 309G may not be a fit and proper person to perform the function to which that approval relates; a person may have performed a designated senior management function without approval under section 309G (see section 309U(3)); a person may be guilty of misconduct for the purposes of section 309Z2. In addition to the powers conferred by section 171, a person conducting an investigation under section 168(5) as a result of this paragraph is to have the powers conferred by sections 172 and 173 (and for this purpose the references in those sections to an investigator are to be read accordingly).

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Source: legislation.gov.uk · retrieved 2026-09-04