[66B Misconduct: action by the PRA]
[66B Misconduct: action by the PRA]

[(1)     For the purposes of action by the PRA under section 66, a person is guilty of misconduct if any of conditions A to C is met in relation to the person.

(2)     Condition A is that—

(a)     the person has at any time failed to comply with rules made by the PRA under section 64A, and

(b)     at that time the person was—

(i)     an approved person, . . .

(ii)     an employee of a relevant PRA-authorised person[, or

(iii)     a director of a PRA-authorised person].

(3)     Condition B is that—

(a)     the person has at any time been knowingly concerned in a contravention of a relevant requirement by a PRA-authorised person, and

(b)     at that time the person was—

(i)     an approved person in respect of the performance of a relevant senior management function in relation to the carrying on by the PRA-authorised person of a regulated activity, . . .

(ii)     in the case of a relevant PRA-authorised person, an employee of the authorised person

[(ii)     an employee of the PRA-authorised person][, or

(iii)     a director of the PRA-authorised person].

(4)     In this section “relevant requirement” means a requirement—

(a)     imposed by or under this Act, or