(1) Where the provisions of the Act of 1942 are invoked in relation to a contravention specified in subsection (3), including where those provisions are invoked in respect of a member of the management body of the designated credit institution concerned or some other natural person responsible for the contravention, any or all of the sanctions referred to in subsection (4) may be imposed by the Authority -

(a) following an inquiry under section 33AO of the Act of 1942, or

(b) in accordance with section 33AR or section 33AV of the Act of 1942.

(2) The power of the Authority to impose any of the sanctions referred to in subsection (4) is in addition to and not in substitution for its power to impose any of the sanctions specified in section 33AQ of the Act of 1942.

(3) The contraventions referred to in subsection (1) are the following:

(a) a designated credit institution has acquired a permission for a covered bond programme under section 26B by means of false statements or other irregular means;