(1) Where the FCA is satisfied that a person has repeatedly and seriously contravened any provision within paragraph (2) (whether or not each contravention is of the same provision), the FCA may decide that, for a period not exceeding 5 years -

(a) the FCA will not accept from the person any application under regulated market admission rules for the approval of a prospectus,

(b) the FCA will not engage in any process initiated by the person for validation of a prospectus under regulated market admission rules, and

(c) the person is not permitted -

(i) to publish a prospectus,

(ii) to attempt to have a prospectus approved, or

(iii) to have a prospectus validated.

(2) The provisions referred to in paragraph (1) are -

(a) any provision of regulated market admission rules;

(b) any provision of these Regulations;

(c) any provision contained in or made under Part 6 of FSMA 2000;