The Public Offers and Admissions to Trading Regulations 2024
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Change 1
40 Penalties for contraventions
(1) If theFCA finds that a person is failing or has failed to comply with the person’s obligations under an applicable provision, it may impose on that person a penalty of such amount as it considers appropriate. (2) If, in the case of a contravention by a person (P) of an applicable provision, the FCA considers that a person who was at the material time a relevant officer of P was knowingly concerned in the contravention, it may impose on that person a penalty of such amount as it considers appropriate. (3) In this regulation— “an applicable provision” means— a provision of these Regulations, or a provision of regulated market admission rules or of designated activity rules made by virtue of regulation 15 or 17; “relevant officer” of a person means— a director or other similar officer of the person, or if the affairs of the person are managed by its members, a member of the person.
40 Penalties for contraventions
(1) If theFCA finds that a person is failing or has failed to comply with the person’s obligations under an applicable provision, it may impose on that person a penalty of such amount as it considers appropriate. (2) If, in the case of a contravention by a person (P) of an applicable provision, the FCA considers that a person who was at the material time a relevant officer of P was knowingly concerned in the contravention, it may impose on that person a penalty of such amount as it considers appropriate. (3) In this regulation— “an applicable provision” means— a provision of these Regulations, or a provision of regulated market admission rules or of designated activity rules made by virtue of regulation 15 or 17; “relevant officer” of a person means— a director or other similar officer of the person, or if the affairs of the person are managed by its members, a member of the person.
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