Section 202

Where the Bank of England notifies a person under section 201(1)(d) or (1A)(d) that the Bank intends to impose a sanction, the person may appeal to the Upper Tribunal. Where the Bank of England imposes a sanction on a person without notice in reliance on section 201(3), the person and, if the person is a service provider in relation to a recognised payment system or recognised DSA service provider, the operator of the payment system or DSA service provider (as the case may be), may appeal to the Upper Tribunal. The Bank of England may not impose a sanction while an appeal under this section could be brought or is pending.

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