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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 29 August 2023 - onwards
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Regulation 116 Restitution orders

(1) The court may, on the application of the FCA, make an order under paragraph (2) if it is satisfied that a person has contravened a requirement imposed by or under these Regulations, or been knowingly concerned in the contravention of such a requirement, or, where the payment service provider is an authorised payment institution, small payment institution, or registered account information services provider, has contravened a requirement imposed on it by or under section 312R of the 2000 Act, or been knowingly concerned in the contravention of such a requirement, and that -

(a) profits have accrued to them as a result of the contravention; or

(b) one or more persons have suffered loss or been otherwise adversely affected as a result of the contravention.

(2) The court may order the person concerned to pay to the FCA such sum as appears to the court to be just having regard -

(a) in a case within sub-paragraph (a) of paragraph (1), to the profits appearing to the court to have accrue

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