Section 206V

The Bank of England may by order prohibit a specified person from holding an office or position involving responsibility for taking decisions about the management of a recognised person— for a specified period, until further notice, or permanently. A person who breaches a prohibition under subsection (1) commits an offence. A person who commits an offence under this section is liable— on summary conviction in England and Wales, to a fine; on summary conviction in Scotland, to a fine not exceeding the statutory maximum; on summary conviction in Northern Ireland, to a fine not exceeding the statutory maximum; on conviction on indictment, to a fine. In this section, “specified” means specified in the order.

← 6 · All articles · 1 →

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