Sanctions and Anti-Money Laundering Act 2018 · SCHEDULE 2

13

Sch. 2 para. 13 · in force: yes

Captured statutory text (L5)

13

(1)Authorise the Financial Conduct Authority and the Commissioners for Her Majesty's Revenue and Customs to impose civil monetary penalties in relation to the contravention of prescribed requirements.

(2)Authorise supervisory authorities to impose civil penalties (other than monetary penalties) in relation to the contravention of prescribed requirements, including—

(a)the publication of statements of censure,

(b)the suspension or revocation of, or restrictions on, any permission or authorisation granted by a supervisory authority,

(c)the suspension or cancellation of, or restrictions on, a person's registration as mentioned in paragraph 9, and

(d)restrictions on the holding of management responsibilities.

(3)Authorise an oversight body to—

(a)impose civil monetary penalties, and

(b)publish statements of censure,

in relation to the contravention of prescribed requirements by supervisory authorities.

(4)Make provision in connection with any civil penalties for which provision is made under sub-paragraph (1), (2) or (3), including provision for publishing details of persons who have incurred penalties.

Full captured verbatim text

(1) Authorise the Financial Conduct Authority and the Commissioners for Her Majesty's Revenue and Customs to impose civil monetary penalties in relation to the contravention of prescribed requirements.

(2) Authorise supervisory authorities to impose civil penalties (other than monetary penalties) in relation to the contravention of prescribed requirements, including—

(a) the publication of statements of censure,

(b) the suspension or revocation of, or restrictions on, any permission or authorisation granted by a supervisory authority,

(c) the suspension or cancellation of, or restrictions on, a person's registration as mentioned in paragraph 9, and

(d) restrictions on the holding of management responsibilities.

(3) Authorise an oversight body to—

(a) impose civil monetary penalties, and

(b) publish statements of censure,

in relation to the contravention of prescribed requirements by supervisory authorities.

(4) Make provision in connection with any civil penalties for which provision is made under sub-paragraph (1), (2) or (3), including provision for publishing details of persons who have incurred penalties.

What this provision means

Model summary, checked against the text on the left.

Relevance to Signicat: 2/3 · detailed summary (L4) Status: not needed for a short provision · Stored artifact; current recipe verification unavailable

Regulations may authorise civil monetary and non-monetary penalties for contraventions of prescribed requirements.

Only the one-line summary above is stored for this provision; the text itself is the evidence.

Refers to

No captured references.

Referred to by

schedule ref schedule_ref · s. 49

schedule ref schedule_ref · s. 55

schedule ref schedule_ref · s. 57

Part summaries

0 of 0 parts have a verified summary.

L1 unavailable for current verification: the overall summary needs every part verified. Provisions and the verified summaries remain readable.

Verification findings (153)

synthesis coverage: missing/unverified L2 part-1-chapter-1

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Instrument tier unavailable

Change history as published

S. 2 omitted (15.3.2022) by virtue of Economic Crime (Transparency and Enforcement) Act 2022 (c. 10), ss. 57(3), 69(3)

S. 18 omitted (15.3.2022) by virtue of Economic Crime (Transparency and Enforcement) Act 2022 (c. 10), ss. 63(1)(a), 69(3)

S. 24 omitted (15.3.2022) by virtue of Economic Crime (Transparency and Enforcement) Act 2022 (c. 10), ss. 62(1)(a), 69(3)

S. 28 omitted (15.3.2022) by virtue of Economic Crime (Transparency and Enforcement) Act 2022 (c. 10), ss. 62(1)(b), 69(3)

S. 30 omitted (15.3.2022) by virtue of Economic Crime (Transparency and Enforcement) Act 2022 (c. 10), ss. 62(1)(c), 69(3)

S. 32 omitted (15.3.2022) by virtue of Economic Crime (Transparency and Enforcement) Act 2022 (c. 10), ss. 63(1)(b), 69(3)

S. 46 omitted (15.3.2022) by virtue of Economic Crime (Transparency and Enforcement) Act 2022 (c. 10), ss. 63(1)(c), 69(3)

S. 58 omitted (1.1.2024) by virtue of The Retained EU Law (Revocation and Reform) Act 2023 (Consequential Amendment) Regulations 2023 (S.I. 2023/1424), reg. 1(2), Sch. para. 88(3)

Pending effects amendments not yet applied to this text

s. 49 modified by Financial Services and Markets Act 2023 s. 77(1)(2) · Effective date unknown · s. 49

Provenance

Every claim the system makes about this text is traceable to these identifiers.

Instrument: uk:ukpga/2018/13
Part: SCHEDULE 2
Version: bdd84c1dd9179d72500101d1…
Content hash: sha256 605120b66fae5fb636f350a4…
Source: legislation.gov.uk/ukpga/2018/13