(1) If the appropriate regulator considers that an authorised person has contravened a relevant requirement imposed on the person, it may -
(a) suspend, for such period as it considers appropriate, any permission which the person has to carry on a regulated activity; or
(b) impose, for such period as it considers appropriate, such limitations or other restrictions in relation to the carrying on of a regulated activity by the person as it considers appropriate.
(1A) The power conferred by subsection (1) is also exercisable by the FCA if it considers that an authorised person has contravened a requirement imposed on the person by -
(a) the Payment Services Regulations 2017, or
(b) the Electronic Money Regulations 2011.
(1B) The power conferred by subsection (1) may not be exercised in relation to a contravention of a requirement imposed under section 122A, 122B, 122C, 122G, 122H, 122I, 122IA, 123A or 123B.
(2) In subsection (1) -
"permission" means any permission that the authorised pe
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