(1) If the Bank considers that -

(a) a person has contravened a relevant requirement imposed on it;

(b) a settlement internaliser has contravened a requirement imposed by or under the CSD regulation; or

(c) a settlement internaliser has contravened regulation 5N,

the Bank may publish a statement to that effect or impose on it a penalty, in respect of the contravention, of such amount as the Bank considers appropriate.

(2) If the Bank considers that a person has in purported compliance with a relevant requirement knowingly or recklessly given the Bank information which is false or misleading in a material particular, the Bank may publish a statement to that effect or impose upon the person a penalty of such amount as it considers appropriate.

(3) Where the Bank has published a statement or imposed a penalty under paragraph (1) or (2), it must comply with the requirements of Article 62 of the CSD regulation.