PART 9Injunctions and restitution

Injunctions and restitition in respect of certain post-commencement contraventions18

1

Paragraph (3) applies in respect of a contravention, beginning on or after the commencement date, of a requirement which—

a

was imposed before the commencement date under a provision listed in paragraph (2); and

b

is to be treated as if it had been imposed by the PRA by virtue of an order made under section 119(3) of the 2012 Act.

2

The provisions are—

a

section 43 (imposition of requirements);

b

section 44 (variation etc. at request of authorised person);

c

section 45 (variation etc. on the Authority’s own initiative), including the exercise of powers under section 45 by virtue of section 47 (exercise of power in support of overseas regulator);

d

section 46 (variation of permission on acquisition of control);

e

section 196 (the power of intervention).

3

Sections 380, 382 and 384 apply as if they defined both the PRA and the FCA as the appropriate regulator in respect of the contravention.