Schedule 9: Wholesale cash distribution Part 1 – New Part 5A of the Banking Act 2009 Enforcement Section 206X: Appeal
This section provides for appeals against the Bank’s decision to impose a sanction under this Part. Where the Bank notifies a person under section 206W(1) that it intends to impose a sanction, the person may appeal to the Upper Tribunal (see subsection (1)). Where the Bank imposes a sanction on a person without notice in reliance on section 206W(3), the person may appeal to the Upper Tribunal (see subsection (2)). The Bank may not impose a sanction while an appeal under this section could be brought or is pending (see subsection (3)).