Date-stamp loading
Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 8 October 2014 - onwards
    Version 1 of 1    

Regulation 32 Sanctions that may be imposed by Bank

In the case of an adverse assessment, the Bank may impose on the assessee concerned the following sanctions as are the specified sanctions:

(a) a private caution or reprimand;

(b) a public caution or reprimand;

(c) subject to Regulation 34(2), a direction to pay to the Bank a monetary penalty (but not exceeding €2,500,000 in any case);

(d) where the assessee continues to commit a prescribed contravention, a direction ordering the person to cease committing the prescribed contravention;

(e) where an adverse assessment has been issued, a direction to pay the Bank all or a specified part of the costs incurred by it during its investigation (including any costs incurred by authorised officers).

Comparing proposed amendment...