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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 31 December 2020 - onwards
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192K. Power to impose penalty or issue censure

(1) This section applies if a regulator is satisfied that a person who is or has been a qualifying parent undertaking ("P") has contravened -

(a) a requirement of a direction given to P by that regulator under section 192C,

(b) a provision of rules made by that regulator under section 192J or 192JB, or

(c) a requirement imposed by a qualifying provision specified, or of a description specified, for the purposes of this subsection by the Treasury by order

(1A) This section also applies if a regulator is satisfied that a person ("P") who is or has been a parent undertaking of a ring-fenced body has contravened a provision of rules made by that regulator under section 192JA.

(2) The regulator may impose a penalty of such amount as it considers appropriate on -

(a) P, or

(b) any person who was knowingly concerned in the contravention.

(3) The regulator may, instead of imposing a penalty on a person, publish a statement censuring the person.

(3A) The regulator may impose, for such

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