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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 24 January 2013 - onwards
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210. Statements of policy

(1) Each regulator must prepare and issue a statement of its policy with respect to -

(a) the imposition of penalties, suspensions or restrictions under this Part;

(b) the amount of penalties under this Part; and

(c) the period for which suspensions or restrictions under this Part are to have effect.

(1A) Each regulator's policy with respect to the imposition of penalties, suspensions or restrictions under this Part must include policy with respect to their imposition in relation to conduct which constitutes or may constitute an offence by virtue of section 23(1A) (authorised persons carrying on credit-related regulated activities otherwise than in accordance with permission).

(2) A regulator's policy in determining what the amount of a penalty should be, or what the period for which a suspension or restriction is to have effect should be, must include having regard to -

(a) the seriousness of the contravention in question in relation to the nature of the requirement contravened;

(b) t

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