SCHEDULES

138(1)If the Bank proposes to impose a sanction on a person under paragraph 136(1) or (3) it must give that person a warning notice.

(2)Section 387 of FSMA 2000 applies in relation to a warning notice given under sub-paragraph (1) and to the Bank as it applies in relation to a warning notice given under that Act and to the regulator which gave that notice, subject to sub-paragraphs (3) and (4).

(3)In complying with section 387(1)(a) of that Act, a warning notice must in particular—

(a)if it is about a proposal to publish a statement, set out the terms of the statement,

(b)if it is about a proposal to impose a penalty, specify the amount of the penalty,

(c)if it is about a proposal to direct a person to refrain from certain conduct, specify the conduct, and

(d)if it is about a proposal to impose a prohibition on holding an office or other position, specify the extent of the prohibition.

(4)For the purposes of sub-paragraph (2), section 387 of that Act has effect as if subsections (1A) and (3A) were omitted.