(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;
(d) section 89 of the Financial Services Act 2012 [2012 c. 21.] (misleading statements);
(e) section 90 of that Ac
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