56 Prohibition orders
56 Prohibition orders

[(1)     The FCA may make a prohibition order if it appears to it that an individual is not a fit and proper person to perform functions in relation to a regulated activity carried on by—

(a)     an authorised person,

(b)     a person who is an exempt person in relation to that activity, or

(c)     a person to whom, as a result of Part 20, the general prohibition does not apply in relation to that activity.

(1A)     The PRA may make a prohibition order if it appears to it that an individual is not a fit and proper person to perform functions in relation to a regulated activity carried on by—

(a)     a PRA-authorised person, or

(b)     a person who is an exempt person in relation to a PRA-regulated activity carried on by the person.]

(2)     [A “prohibition order” is an order] prohibiting the individual from performing a specified function, any function falling within a specified description or any function.